Coworking venture Spaces signs big lease at Hale Building

Spaces, an international coworking company, has signed on as the major tenant for the historic Hale Building on Chestnut Street.

The Inquirer first reported the news about the 37,735-square-foot lease, which was handled by the real estate services firm CBRE. Spaces will set up shop on the third through eighth stories of the Willis G. Hale-designed building, and will have exclusive access to the planned roof top deck.

As for the first and second floors of the Hale, those will be reserved for a yet-to-be-determined restaurant.

The news comes shortly after restoration work began on the Hale Building, located at 1326 Chestnut Street. Currently, the block of Juniper Street is closed to vehicles, as construction workers restore the facade. The exterior work is expected to last until the end of this year.

Spaces will be an interesting addition to this stretch of Chestnut Street, which has seen a renewed investment in recent years, especially from developer Brickstone Realty, which owns the Hale. Brickstone also brought the Yard, a Brooklyn-based coworking venture, to the historic Steele building a few blocks away on 11th and Ludlow.

Here’s the latest look on progress over at the Hale. Head over here for full coverage on the Hale.

Photo by Melissa Romero

• Regus coworking brand Spaces to occupy Philly's Hale Building offices [Inquirer]