CBRE Taking Full Ownership of Industrious

CBRE Group, Inc. on Tuesday announced a definitive agreement to acquire Industrious National Management Company, LLC, a leading provider of flexible workplace solutions, for approximately $400 million. Expected to close later this month, the transaction expands upon CBRE’s existing 40% equity stake and reflects an implied enterprise value of about $800 million.

With the acquisition, CBRE will create a new business segment called Building Operations & Experience (BOE), to be led by Industrious CEO Jamie Hodari, who will also serve as CBRE’s chief commercial officer. The new BOE segment will consist of CBRE’s Enterprise Facilities Management, Local Facilities Management, Property Management and Industrious, and will unify building operations, workplace experience and property management, according to CBRE. The segment produced approximately $20 billion of combined revenue, including Industrious, in 2024 and comprises CBRE’s entire seven-billion-square-foot global property and corporate facilities management portfolio.

CBRE COO Vikram Kohli has been promoted and taken on increased responsibilities. He now has the additional title of CEO, Advisory Services, with responsibility for driving growth for CBRE’s largest business segment, which spans leasing, capital markets and valuation activities.
 
“The advancements we’ve announced today support our strategy of investing in resilient businesses that benefit from secular tailwinds, creating new and differentiated products and continually improving the capabilities of our leadership team,” said Bob Sulentic, CBRE’s chair and CEO.