Novel Coworking , formerly Level Office , has acquired a 114,000 sq ft building in downtown Uptown , its first flexible workspace in the Twin Cities . Existing tenants in the TriTech Center , occupying nine of the nine-storey space, will remain in the building. “The demand for flexible and budget-friendly workspace in Minneapolis has been impressive, and we’re excited to be able to offer small businesses and entrepreneurs even more options downtown,” said Bill Bennett, founder of Novel Coworking, in a statement. The company’s business model, unlike many in the sector, sees it buying rather than leasing properties, which Novel claims allows it to sublet space to members at lower rates.
Novel Coworking , formerly Level Office , has acquired a 114,000 sq ft building in downtown Uptown , its first flexible workspace in the Twin Cities . Existing tenants in the TriTech Center , occupying nine of the nine-storey space, will remain in the building. The company’s business model, unlike many in the sector, sees it buying rather than leasing properties, which Novel claims allows it to sublet space to members at lower rates.