CBRE buys 35% stake in workspace provider Industrious, which has outpost on Dean Street, across from B12/B13 site
A 2/22/21 press release, CBRE Group, Inc. Acquires 35 Percent Interest in Industrious, Leading Provider of Flexible Space Solutions , adding that the "world’s largest commercial real estate services and investment firm," which is headquartered in Dallas, is expecting to acquire another 5% in the coming weeks. The deal includes $200 million in cash and the transfer of CBRE's own "flexible-space solutions offering, Hana," which has ten locations in the U.S. and UK. The Commercial Observer quoted Industrious CEO Jamie Hodari: "Almost every Fortune 500 [company] is putting in workplace plans that explicitly say they’re going to massively increase their use of flex." "Industrious has more than 100 locations in more than 50 U.S. cities and specializes in asset-lite flexible workplace operating models," according to the press release, which added: The investment significantly increases CBRE’s participation in the flexible workplace sector and posi...