Corporations have finally realized the benefit of coworking spaces as many are faced with the challenge of accommodating their now distributed workforce.
Now, brokerages are looking for ways to acquire these operators in order to tap into this flourishing industry.
One of the biggest deals of the year came from CBRE, who announced that it was acquiring a 35% stake in Industrious for $200 million in cash.
This makes CBRE the largest shareholder into the coworking company, allowing the brokerage to merge its own flex space brand Hana into Industrious.
Now, CBRE will be able to expand the Hana brand into over 100 locations where Industrious operates.
“Our investment in Industrious is consistent with our view that flexible office space is playing an increasingly central role in companies’ occupancy strategies and aligns us with an exceptional operator and an outstanding leadership team that is executing a great strategy,” said Bob Sulentic, CEO of CBRE. “We have been building our Hana flex-space business expressly to meet the flex-space opportunity and Industrious now enables us to capitalize on it at scale with a portfolio of well-situated units in key markets.”
Cushman & Wakefield has also dipped its toes into the coworking arena by launching INDEGO, a white label service for UK landlords and investors.
Emma Swinnerton, the brokerage’s head of flexible workspace, will guide the team to specialize in bespoke flexible workspaces.
