Thrive at Cherry Creek Gains Capital Investment for Expansion

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Thrive Cherry Creek, a coworking space in Denver, CO, has signed new investors, Raphael Martorello and Andy Seth of LotusGroup Advisors and Dave Ness of Thrive Real Estate.

Thrive at Cherry Creek has entered into an investment agreement with Raphael Martorello and Andy Seth of LotusGroup Advisors and Dave Ness of Thrive Real Estate. The investors helped fund the physical expansion of Thrive’s Cherry Creek location and the ramp up for a Ball Park location scheduled to launch in May of 2014.

Thrive Workplace opened its second Denver location in Cherry Creek in August of 2013 and that space is now filled to more than 90% capacity. Owners Charlie and Chad Johnson attribute the success to their focus on creating spaces that support the needs of entrepreneurs, small teams, and independent workers. Thrive offers members instant productivity with uniquely designed spaces that are wired with ready-to-go business amenities such as wireless, phone, printing, and reception. Thrive also fosters community by hosting social hours, networking and learning events, conference and training rooms for the public to rent, and even an on-site Pilates class. The brothers have plans to expand to several markets in the next year.

“There is a huge demand for Thrive locations so we are excited to have LotusGroup Advisors and Thrive Real Estate as investors and partners. They bring capital, connections, and experience to help us expand the right way,” say co-owners Charlie Johnson and Chad Johnson.

According to a study conducted by software company Intuit, more than 40% of the American workforce will be contingent or mobile workers by the year 2020. That means entrepreneurs such as contractors and freelancers, along with satellite employees will reach a staggering 60 million people. These numbers are driving the demand for updated and flexible office environments for this population.

“We’re on a mission to cultivate a community of driven and talented people who make life count. Our investment in Thrive helps bring beautifully designed workspaces to our community, along with an ecosystem that builds meaningful relationships. The energy at Thrive is contagious and we are excited to be the lead investor,” says Co-Founder Raphael Martorello.

About Thrive Workplace Solutions
Thrive provides innovatively designed, flexible spaces for growing businesses as well as services specifically tailored to support our members’ business needs. Private offices, permanent desk space and mobile desk space is available to rent on a month-to-month basis. Conference rooms and a large training room are also available to rent by the hour.

About LotusGroup Advisors
Raphael Martorello and Andy Seth are Co-Founders of the Denver-based Registered Investment Advisor (RIA) firm. LotusGroup cultivates a community of clients whose real-life returns rise above the rest.

About Dave Ness
Dave Ness is Co-founder and Partner at Thrive real estate (not associated with Thrive Workplace), a boutique real estate firm rated number one on Zillow and Trulia and focused on Denver real estate and the surrounding neighborhoods.

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Lisa McAlister

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