“I had thought about doing a co-working space, and said if he could make it work, I’d certainly want to be involved,” Price recalls. Price is also the entrepreneur-at-large for New York City-based DFJ Gotham Ventures, an early-stage venture capital firm focused primarily on investments in technology startups based in the Northeast US and Israel.

Dell’Aquila, meanwhile, had a penthouse space at his 80,000-square-foot building to fill, and got a call from Pierce. The entrepreneurially-inclined Dell’Aquila was intrigued, but cautious, given the transient nature of this type of business and its contrast with the more traditional tenants in the building.

“The penthouse has its own elevator, so they won’t interact with the other tenants,” Dell’Aquila says. “My entrepreneurial drive took over, and within an hour, Pierce had spoken to Aaron Price. The personalities just fit. Aaron is more about marketing. Mike is the operations guy. I’m real estate and construction. It was this unbelievable match.”

As part of the construction that was needed, the walls of the 1935 building were stripped to their original tile to create a functional, but informal space more typical of tech companies. The private offices are set off with fluted polycarbonate walls that are completely transparent yet offer privacy.

“We built an awesome space that is so creative and unique and collaborative,” Dell’Aquila says, adding that he is the landlord and the banker as well as a partner in the project. “I don’t think this is risky. This is part of the help of the tech age that will bring the economy back.”

Mission Fifty will offer a range of flexible leasing terms from daily to monthly options, with monthly rents starting as low as $300 for a communal space to $500 for a dedicated spot. Leasing has not begun for the spaces, but Price already has a list of 75 waiting to apply for the spaces. “There is clearly a need,” Price says. “The response has been pretty overwhelming.”

There are more than 880 co-working spaces around the world, according to DeskMag, a co-working trade publication, and Price says more are on the way. As traditional companies become less stable, he notes, more entrepreneurs even beyond tech experts will need this type of space to create new concepts and companies. The plan is to open new “missions” to accommodate them. “We have plans to expand in the state and even beyond,” Price says. A second site is being considered right now. “This is definitely not it for New Jersey.”