The joint venture formed last year by Hotel Equities and Virtua partners, known as 33 Degrees, has made a large bet that the coworking sector will increase its footprint to 30% of the office space market by 2030.
The 33 Degrees venture is bankrolling a rapid nationwide expansion of Georgia-based coworking player Thrive, which plans to add 500 new coworking locations, focusing on space in walkable, downtown areas.
Quinn Palomino, 33 Degrees' board chairman, said Thrive has established the gold standard for hybrid coworking space at its three Georgia locations in Alpharetta, Milton and Canton.
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