Despite the ongoing pandemic, Mindspace continues to expand its operations in Israel through its innovative management agreement model, which allows the leading flex workspace provider to partner up with property owners. The new branch, Mindspace La Guardia, will open in March 2021 in the new Vitania Tower in Tel Aviv.
Mindspace is implementing a management agreements strategy in collaboration with property owners to operate their buildings. Such agreements allow Mindspace to increase the availability of its services to all users of a given facility, not just the operator’s tenants. In the last two years, Mindspace has already signed five management agreements with property owners in Israel, Europe, and the United States, which includes the new branches in Tel Aviv and in Philadelphia. Additionally, in early 2021 the company plans to expand further in Berlin.
As a result of implementing this strategy, Mindspace will manage the new La Guardia branch on behalf of and in cooperation with Vitania. La Guardia is Mindspace’s fifth branch in Israel. This location will offer over 4,000 sqm of flex office space and 600 workstations, on two floors of Vitania Tower. At Mindspace La Guardia, users will have at their disposal both private offices of various sizes and common spaces, including fully equipped kitchens, conference rooms, and a space for large events.
Yotam Alroy, Co-Founder and CBO of Mindspace, commented: “I am very glad that despite the ongoing crisis, Mindspace is still growing. During the pandemic, many companies have started considering flex spaces as an alternative to traditional offices. Of course, this represents an opportunity for us. There is no denying that most companies now express an interest in flexible solutions for shorter periods than standard contracts lasting 5–10 years. Even agreements concluded for a few months are gaining in popularity. On the other hand, property owners are shifting to management agreements and introducing flex office spaces in their buildings. This is often the result of concluding a management agreement with operators such as Mindspace. This solution offers both companies higher potential in occupancy and income—especially in times of economic slowdown. We are proud to collaborate with Vitania, one of the leading players in the real estate market in Israel, with an advanced mindset and a strong awareness of the work environment of the future.”
Vitania is listed on the Tel Aviv Stock Exchange and is one of the oldest and most experienced companies in Israel in the field of initiating, developing and managing office buildings, commerce, residences and hotels. Its portfolio includes the modern Vitania Tower office building, where Mindspace will open its space in March this year. Besides its luxurious lobby, Vitania Tower offers tenants a gym, a restaurant, an event hall, bicycle rooms, and much more.
Ofer Ziv, CEO of Vitania, said: “We are happy to cooperate with Mindspace. During these times when the world of work as we know it is changing, offering flex offices is the right thing to do. Mindspace is, therefore, the natural choice, being a global, established, stable company as well as successful in the Israeli market.”
Mindspace has a total of 32 locations in Europe (Poland, Germany, Romania, the UK, and the Netherlands), the United States and Israel. Members of the Mindspace community can use any other location around the world at no additional cost. With the launch of the Virtual by Mindspace platform, they can also meet and participate in a variety of online events.
