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Novel Coworking purchases office building in downtown St. Petersburg

Coworking company Novel Coworking is expanding its Florida footprint with the purchase of 333 3rd Ave N in downtown St. Petersburg. The Chicago-based company acquired the 5-story office building on Feb. 18 and plans to renovate it to provide modern and affordable workspace. Pre-leasing is already underway for private offices, SmartSuites, and coworking memberships. St. Petersburg is the company’s fourth Florida location, after Jacksonville, Orlando, and Miami.

“Located at the heart of Downtown and within walking distance of businesses, city offices, and arts and entertainment, this building is an ideal location for a coworking center that will fuel Downtown St. Petersburg’s tremendous economic growth,” said Bill Bennett, founder of Novel Coworking. “We are thrilled to serve the city’s small businesses as well as enterprise companies with the modern, technology-equipped space they deserve to run their business.”

Built in 1958, the 53,106 square-foot building is home to Synovus Bank, who will continue to operate their bank branch on the ground floor. By owning the buildings where it operates, Novel Coworking is able to invest in infrastructure improvements including fiber internet and custom-built suites for up to 500-person teams, all while keeping pricing lower than competitors. In 2019, the company debuted its SmartSuites, technology-enhanced private suites, which feature a combination of private offices and collaborative open space, dedicated kitchen and conference room facilities, and integrated technologies such as Alexa-enabled sound system and biometric keypad entry.

Novel Coworking 3rd Ave’s members will get 24/7 building access, a vibrant coworking lounge, direct fiber internet, all utilities, an espresso bar, local beer on tap, modern furnishings, and community events included in rent. With monthly coworking memberships for $179 a month, private offices starting at $675 a month, and office suites as low as $350 per employee a month, Novel Coworking provides small businesses, enterprise firms, and entrepreneurs with high-caliber amenities at an affordable price.