Hine Development Signs First Office Space Tenant

Co-Working Space Provider The Yard Signed On

700 Pennsylvania Ave. SE. (Photo: Weinstein Studio/Esocoff Associates)

A co-working space business signed on as the first tenant to lease a space at the Hine Development’s 700 Pennsylvania Ave. SE site on Sept. 23. The Yard, an office space provider based in New York, leased a 31,500-square-foot space on the second floor of the building.

The Yard works with clients in modern professional businesses looking for a luxury office space or private office in a co-working environment. The company provides furnishings, conference rooms, WiFi, lounges and custom décor — the idea is to offer smaller businesses a space without the cost of leasing the entire space alone.

Stanton-Eastbanc, LLC’s mixed-use redevelopment of the Hine Junior High plans to open in the summer of 2017. It includes about 150,000 square feet of office space. Stanton-Eastbanc also wants to set the lease price per square foot between $60 and $70, according to the company.

The Yard also recently opened a space in Philadelphia, but mainly resides in New York.