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Texas   /   February 23, 2021

Lisa Brown
By: Lisa Brown

CBRE Acquires 35% Interest in Flex Workplace Firm Industrious

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.

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Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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