CBRE’s co-working subsidiary, Industrious, is expanding its presence in the Bay Area by leasing about 19,800 square feet at 220 Park Road in Burlingame. The space covers most of the fourth floor of the newly redeveloped building, which was previously a post office and has been converted into high-end offices as part of a $180 million project. This makes Industrious the largest tenant to date at the property.
The development of 220 Park was led by Dostart Development Company and Sares Regis. Last year, SkyKnight Capital leased approximately 10,000 square feet at the same location. Sources familiar with ongoing negotiations told the San Francisco Business Times that another lease may soon be finalized with an additional firm.
Located near the Burlingame Caltrain station, 220 Park offers around 168,000 square feet of office space and 17,000 square feet dedicated to retail. A restaurant from a Michelin-starred hospitality group is also expected to open within the building.
Industrious sees potential in Burlingame as it sits between San Francisco and Palo Alto. The company aims to attract professionals along the Peninsula who prefer working closer to home rather than commuting into larger cities. “There’s a lot of coworking in San Francisco and a fair amount in Palo Alto, but nothing in Burlingame,” said Peri Demestihas, head of real estate for Industrious. “It’s a pocket filled with folks who say, ‘I don’t want to go into San Francisco or Palo Alto. I want to live and work here.’”
The shift toward hybrid work models has influenced demand for flexible office space across the region. While tech companies once relied on co-working spaces like WeWork for rapid expansion, many now use their own offices under hybrid arrangements. The growth of artificial intelligence firms such as OpenAI and Anthropic has further driven demand for specialized office environments throughout the Peninsula and surrounding areas.
Industrious is also developing two new locations near Stanford in addition to its Burlingame site.
According to CBRE data cited by the Business Times, businesses and research organizations sought about 4.3 million square feet of office space on the Peninsula recently—a 57 percent increase from the previous quarter—with leasing activity rising by 76 percent during that period. Earlier this year, CBRE acquired full ownership of Industrious in a deal valuing it at $800 million.
