Coworking facility operator Plexpod is doubling down on its investment in Kansas City’s shared workspace market, acquiring Think Big Coworking’s Main Street location, Plexpod founder Gerald Smith said.
The deal adds more than 30,000 square feet of space to Plexpod’s already large footprint in the area and forges a new partnership between the two organizations to offer members more resources for growth.
Smith declined to disclose terms of the purchase.
“When we started, we envisioned a network of facilities that could bring better connectivity among entrepreneurs and growth-stage companies across the metro and Midwest,” Smith said. “This is another step.”
As of Jan. 1, Think Big Coworking will become Plexpod Crossroads, at which time the company will also embark on a remodeling plan.
With the acquisition, Plexpod will manage more than 220,000 square feet of office space at its three locations across the Kansas City area, playing host to more than 225 companies that can access each of the different locations, Smith said.
In addition to the acquisition, Think Big Partners will be deploying a new incubator program — Think Big Labs — at each Plexpod location. The program will focus on emerging technologies and serve as an innovation lab focused on helping communities prepare for and foster entrepreneur-led economic growth.