SimplerSpace Opens 3rd Coworking Location
SimplerSpace has opened its third coworking location. The 13,500-square-foot space is at Chino Corporate Center, a 58,573-square-foot office building in Chino, Calif. The flex office provider also operates in Carlsbad, Calif., and Placentia, Calif.
The owner of the four-story, Class A office asset is Foothill Accountable Care Medical Group. The firm picked up the property in 2022 for $15.1 million from The Fulcrum Group, according to CommercialEdge information.
SimplerSpace occupies the property’s entire fourth floor, providing 50 offices and suites. The firm teamed up with building manager Map Realty Group and contractor Dutchmen Construction to guide the space improvement process. Upgrades included the addition of common areas and lobbies upgrades, as well as new flooring, additional conference rooms and the expansion of the break room and lobby spaces.
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Located at 14726 Ramona Ave., Chino Corporate Center is LEED Gold-certified. Completed in 1991 and renovated in 2015, the office building also features solar energy services, 24-hour card key access and signage options.
Other tenants include Transamerica Financial Advisors, King Realty Group, Coastal Vision Medical Group, InsurTech Insurance Solutions and EJD Engineering Inc., the same source shows.
The approximately 3-acre property is close to Chino Airport, 12 miles from Ontario International Airport, and within 35 miles of downtown Los Angeles.
The coworking sector grows over the quarter
In the first quarter of 2024 there was a 6 percent increase in the national coworking supply, followed by another 7 percent growth in the second quarter, representing 444 more locations throughout the U.S., a recent CoworkingCafe report shows.
Los Angeles secured the top spot across the top 25 markets in the U.S. for inventory growth, with 279 coworking spaces so far. The metro outpaced Dallas-Fort Worth (271 spaces) and Manhattan (264 spaces), the national leader until the end of 2023.
In one of the more recent Los Angeles coworking deals, Industrious expanded its footprint with a 19,000-square-foot lease at the North Tower of Watt Plaza, a 476,120-square-foot office building in Century City, Calif. The tenant entered into a 10-year agreement for a full floor with landlord Watt Cos.
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