Recent CBRE surveys show that 86 percent of its occupier clients plan to incorporate flex office space in real estate strategies and 82 percent will favor buildings that offer a flex-office component. With that research in mind, CBRE Group Inc. recently acquired a 35 percent interest in the form of primary and secondary shares in Industrious, a flexible workplace solutions provider.
CBRE is now Industrious’ largest shareholder. In addition, CBRE is expected to acquire an additional 5 percent of Industrious in the coming weeks, which would result in a 40 percent total stake. Industrious has more than 100 locations in 50-plus U.S. cities.
The investment significantly increases CBRE’s participation in the flexible workplace sector and positions the company to meet rising demand for agile space solutions, a trend that is being accelerated by the pandemic.
As part of the transaction, CBRE’s flexible-space solutions offering, Hana, will be merged into Industrious. The consideration includes approximately $200 million in cash and the transfer of Hana. When the transaction closes, the 10 existing U.S./U.K. Hana locations will be operated by Industrious.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.