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Columbia Business Monthly

CBRE Arranges Lease For Coworking Firm In Lexington

Jun 20, 2018 02:28PM ● By Kathleen Maris
CBRE has executed a 10,731-square-foot lease at Southlake Center, a 42,000-square-foot multi-tenant office building in Lexington. CoCreate Lexington, a locally owned and operated coworking startup, will occupy the property at 714 South Lake Drive this summer to offer sharable office space, technology, and meeting rooms to the Columbia area business community.

CBRE’s Marie Dieckmann and Aaron Dupree represented the landlord and the asset manager, East West Capital, in this transaction. With the completion of the CoCreate lease, only one vacancy remains at Southlake Center, an open layout space just more than 2,300 square feet.

“We’re happy CoCreate has found a home in Southlake Center and we’re looking forward to the grand opening this summer. The property’s location less than one mile to I-20 and two miles to downtown Lexington offers great convenience to office users,” said Dieckmann, associate at CBRE. “Coworking has experienced exponential growth in the past decade. The appeal of the coworking model lies in the opportunity for lease-term flexibility coupled with highly appealing workplace environments.”

Per CBRE’s Americas Occupier Survey 2018, the majority of respondents continue to evaluate creative office solutions, especially coworking, to satisfy their mandate for portfolio flexibility. Southlake Center provides creative office space in a repurposed brick manufacturing facility. It offers ample parking, street visibility, and monument signage with almost 30,000 vehicles passing daily.

CoCreate will provide private offices, dedicated desk space, and flex or floating desk space, as well as full time and part time memberships at affordable rates. The company will also offer monthly educational, social, and networking events for the self-employed, remote workers, microbusinesses, and others.