Hines to Open DC Coworking Location
JPMorgan Chase is the owner of the historic building.
The Bowen Building. Image courtesy of CommercialEdge
The Square, Hines’ flexible workspace platform, will open a coworking location in downtown Washington, D.C. The firm will occupy space at the historic Bowen Building, owned by JPMorgan Chase and managed by Hines. The location is slated to come online this fall and is already 20 percent preleased.
The flex office space will encompass 30 offices and three suites, being able to accommodate up to 225 people. It will feature private suites for teams of more than 25 people and enclosed customizable offices for groups of up to 75 individuals, along with shared workspaces. The suites will have private amenities such as kitchenettes, printer stations and conference rooms.
The Bowen Building rises 12 stories and comprises 231,000 square feet. It was originally built in 1922 and most recently underwent renovations, soon after JPMorgan’s acquisition in 2018. Located at 875 15th St., at the corner of McPherson Square, the property is within walking distance of Lafayette Square.
This location will be The Square’s fifth flexible workspace worldwide and the fourth in the U.S. The company operates spaces in Houston, Salt Lake City and Mexico City.
Activity in Washington, D.C.’s coworking market started to decline in the fourth quarter of 2022, lagging other important gateway markets, as shown by a recent market update. Large operators are still making investments in the city, Industrious having recently opened its seventh location in the metro.
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