135 West 50th Street.

NEW YORK CITY-  GeorgeComfort & Sons, Inc., a commercial real estate investment firm,has completed a 15-year lease with Industrious at 135 West 50th St.in Midtown to premium workplace provider Industrious, which willalso manage the Midtown tower's brand new amenity center that isunder construction. 

Industrious' lease is variable with GeorgeComfort for the 37,000-square-foot shared workspace the firm willoccupy. With this structure, Industrious' fixed-cost obligation isless than market value due to the revenue and profit-sharecomponent. In addition, the firm has signed a management agreementfor the 20,000-square-foot amenity space.

The property is the newest location for Industrious, which hasmore than 90 locations in over 45 U.S. cities. As a tenant, thefirm will seek to make its stamp on workplace amenities, whichaligns with what George Comfort vision for the new amenity space at135 West 50th St. dubbed "Club 135 by Industrious."

"135 West 50th Street is being transformed into one of the mostdesirable buildings in Midtown and Industrious is proud to beworking with George Comfort & Sons to further amenitize theproperty," said Justin Stewart, president and co-founder ofIndustrious, in a prepared statement.  "Our number onemission is to provide an amazing workplace experience. We'reexpanding our reach beyond traditional shared workplaces to managetenant experience across whole buildings; we look forward todelivering a great day at work on a much larger scale with Club 135by Industrious."

Industrious shared workplace at 135 West 50th Street will total 37,000 squarefeet and offer amenities such as Wi-Fi, a fully-stocked cafe withbreakfast served daily, and member networking events andprogramming; and access to its vast national network. It isexpected to open Q3 2020.

Club 135 on the other hand, willtotal 20,000 square feet. Industrious will manage the spaceexclusive to only building tenants. The amenity center will featurea multipurpose room that can host events for up to 200 guests,collaborative workspaces and executive conference rooms, loungeareas with comfortable seating and an indoor/outdoor terraceoverlooking West 50thStreet, as well as a wellnessfacility with offerings such as yoga classes, meditation areas andstationary bikes.

Notable tenants at 135 West 50th St. include Mizuho Trust andBanking Co., Volunteers of America, and Jewish Board of Family andChildren's Services, Inc.  Recently, George Comfortannounced that Mazars USA, which specializes in audit, tax,consulting, accounting and advisory services, signed a90,000-square-foot lease to build new offices at thetower.  In November, an agreement was reached withUrbanspace, the team behind some of New York City's most popularmarkets, to open a new food hall on the ground floor of the towerin 2020.