TAMPA — Centro Ybor’s former movie theater will become the second in-town Industrious coworking space, the company announced Tuesday.
Industrious, which has 90 locations nationwide, and investment firm Third Lake Capital’s advisory arm — Third Lake Partners — will together convert the former AMC theater into a 45,000-square-feet flexible working space.
Industrious opened its first Tampa office at the SunTrust Financial Center in 2017.
"The market demand in Tampa for the Industrious product has been strong from the start,” Industrious Florida manager Jen Reilly Kelmer said in a statement. "Ybor City is also home to a budding film and creative industry, which makes it the perfect place for this unique movie theater conversion.”
Kelmer said even after expanding to a second floor in the SunTrust building, it has continued to have a long waiting list. Small startups, other businesses and individual workers use coworking spaces to fill office needs without having to sign rental agreements with landlords or worry about office upkeep.
Centro Ybor, a two-story mixed-used complex at 1600 E 8th Ave., is owned by Third Lake Capital. Third Lake was founded by Ronald Wanek, who also founded Ashley Furniture. The furniture company has its e-commerce headquarters in Centro Ybor, too. It took over the other half of the movie theater space that closed in 2015.
Third Lake will not be leasing the space to the coworking company, but they will operate the property in a partnership. The details of that arrangement were not disclosed.
“The Centro Ybor project will be transformative for Centro Ybor and Ybor City bringing hundreds of additional professionals each day, which will positively impact local businesses," Third Lake Partners chief operating officer Robert Forsythe said in a statement. "We believe Ybor City can be a major cultural, artistic, and professional hub for Tampa.”
Nearby in the Channel District, another former movie theater is going through similar renovations. The new offices, likely to be coworking spaces at Sparkman Wharf will take over the former movie theaters at what was previously called Channelside Bay Plaza. Both projects require construction teams to punch holes in the walls to create windows.
Industrious locations have modern floor plans, with natural light and chic furniture. The company offers members access to conference rooms, phone booths, fully stocked cafes and daily breakfast.