Novel Coworking Displays Continued Growth and Strong Performance Ahead of 2020

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Dec 05, 2019, 16:35 ET

CHICAGO, Dec. 5, 2019 /PRNewswire/ -- Today, workspace provider Novel Coworking is debuting private offices, office suites, and coworking space at its new San Jose location. The company acquired the 2150 North First Street building in April and has renovated it into state-of-the-art workspace for one to 500-person companies. Novel Coworking is hosting a Grand Opening Party that is open to the public today, December 5 from 4pm to 7pm PST; attendees can RSVP here.

The San Jose opening is part of an impressive Q4 which includes the opening of its newest building in Denver, Colorado at 1801 Broadway next week on December 12 and with the purchase of 1122 Lady Street in downtown Columbia, South Carolina last month on November 13.

Novel will build upon its strong finish to 2019 in Q1 of 2020 with the opening of three new locations in Milwaukee, Wisconsin (January), Phoenix, Arizona (March) and Norfolk, Virginia (March). While many industry competitors faced challenges this past year, Novel continues to grow, excel and prove its alternative business model in the marketplace.

"We are thrilled with the growth Novel has seen over the past two years and what is on the horizon in 2020. We aim to further our footprint in cities throughout the US by providing beautiful, affordable and alternative office space options to businesses large and small," said Bill Bennett, Founder and CEO of Novel Coworking. "Our rapid growth in the past two years proves the demand for our product as a desirable alternative to the traditional office lease. Our product and business model demonstrate our steadiness and longevity within the marketplace and our industry. With 35 locations and counting, we expect to have 50 locations by the end of 2020, a 194% growth since the beginning 2018."

By owning the buildings where it operates, Novel Coworking is able to invest in infrastructure improvements including fiber internet and custom-built suites for up to 500-person teams, all while keeping pricing lower than competitors. In 2019, the company debuted its SmartSuites™, technology-enhanced private suites which feature a combination of private offices and collaborative open space, dedicated kitchen and conference room facilities, and integrated technologies such as Alexa-enabled sound system and biometric keypad entry.

About Novel Coworking
Novel Coworking provides fully-furnished, technology-equipped, and affordable workspace to small businesses, entrepreneurs, and enterprise companies. Novel Coworking members have access to more than 3 million square feet of workspace in 35 locations including Alexandria, Boulder, Charlotte, Chicago, Cincinnati, Dallas, Denver, Houston, Indianapolis, Columbia, Jacksonville, Kansas City, Madison, Miami, Milwaukee, Minneapolis, Nashville, Norfolk, Orlando, Phoenix, Pittsburgh, Richmond, San Diego, San Jose, Savannah, Seattle, and Washington, D.C. For more information, please visit novelcoworking.com.