MEMPHIS, Tenn., Jan. 25, 2023 /PRNewswire/ -- Spaces, a subsidiary of IWG, the world's largest workspace network, will open a coworking concept in Downtown Memphis at 107 S. Main, currently under renovation by development company 18 Main.

Founded in Amsterdam with over 450 locations of offices, coworking spaces and meeting rooms, Spaces designs dynamic, collaborative environments for entrepreneurs, small businesses, and hybrid employees to achieve their business goals and connect in the process.

Spaces will occupy 18,500 square feet of the historic building on Downtown's Main Street Mall.

"Improving Downtown's commercial vibrancy is critical, particularly post-COVID," said developer Tom Intrator. "We've been looking for a partner in the co-working space for quite some time, and Spaces' model was a natural fit. We look forward to its presence supporting the growing residential footprint of the neighborhood while also serving the new wave of hybrid office workers."

The 30,000-square-foot building, which dates back to 1900, sat vacant and blighted for over two decades before 18 Main purchased the property in 2019 with a plan for complete renovation.

"The renovation and activation of this building is a point of pride for Downtown considering its tumultuous history," said Downtown Memphis Commission (DMC) President & CEO Paul Young.

107 S. Main had been a top priority of the Downtown Memphis Commission's anti-blight focus for over a decade. Under previous ownership, its spot on the "Dirty Dozen" of most-wanted blighted buildings led to a 2015 emergency hearing by the Shelby County Environmental Court and accompanying lawsuit due to the building's structural risk.

18 Main's restoration and construction on the building commenced for a majority of 2022, including historic preservation and future reuse of the DMC's public art that temporarily adorned 107 S. Main's facade.

In addition to 107 S. Main, 18 Main's South Main retail spaces have also welcomed YogaSix, a national yoga studio brand opening this month, as well as Memphis Spine & Sport and Civil Axe Throwing.

Spaces projects a grand opening in 107 S. Main this summer.

Learn more about Spaces at spacesworks.com.

ABOUT 18 MAIN. The core model of 18 Main is rooted in long-term, multi-strategy real estate investment, coupled with lifestyle operating business acquisitions centered around hospitality, food & beverage, and experiential retail. Learn more at 18main.com.

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SOURCE 18 Main