“Work” is not a four-letter word for Chanhassen-based Life Time. The health club chain is now expanding beyond working out into the business of co-working.
This week Life Time announced plans for its first Twin Cities location of Life Time Work, which will open in early 2019 in the West End area of St. Louis Park at the crossroads of Interstate 394 and Highway 100. The company is leasing 28,000 square feet of space at the Towers at West End office building, not far from a Life Time Athletic club.
The St. Louis Park location will mark the first standalone Life Time Work space that is not connected to one of its clubs. Life Time is also planning to open additional Life Time Work locations in downtown Minneapolis in mid-2019 and Edina in late 2019.
The Edina location, which is slated to be more than 30,000 square feet, will become the largest Life Time Work outpost according to Natalie Bushaw, a spokeswoman for Life Time. The Edina location will be part the expansive Life Time Athletic Southdale on the eastern side of the Southdale Center shopping mall, which will also include Life Time Sport, offering a venue for pick-up style soccer games. Life Time’s Southdale location will have more than 150,000 square feet of total space and is slated to open in the second half of 2019.
Bushaw said that the company has not yet selected a downtown Minneapolis location for its shared workspace concept.
The Life Time Work locations will offer a variety of areas for individuals or teams to dig into their projects. (Photo courtesy of Life Time)
The company opened its first Life Time Work location in Ardmore, Pennsylvania—a Philadelphia suburb—in April and has planned locations in Gainesville, Virginia (in the Washington D.C. metro area) and Houston. A statement from the company said that it envisions adding “dozens more in the next few years.”
The emergence of Life Time Work reflects Life Time’s larger ambitions to become a lifestyle company with numerous lines of business. Beyond Life Time Work and Life Time Sport, the company is also hatching plans for Life Time Living which would offer luxury condos and living spaces.
The co-working trend is on a strong growth curve. A market overview compiled this month by the Cushman & Wakefield Minneapolis-St. Paul tallied 30 different firms offering a combined total of 903,000 square feet of co-working space across the Twin Cities. About a year ago, the commercial real estate services firm counted 20 companies offering 635,000 of local co-working space. While there are several large national players in the market, 16 of the 30 operators have spaces smaller than 10,000 square feet.
Twin Cities Business recently reported that New York-based WeWork, which has become the giant of the co-working industry, will now lease 102,000 square feet of space at the MoZaic East office building that’s nearing completion in the Uptown area of south Minneapolis. WeWork made its Twin Cities debut a year ago when it opened a 53,000-square-foot space on three floors of Capella Tower in downtown Minneapolis.
Conference rooms will also be available to members of Life Time Work. (Photo courtesy of Life Time)