Industrious National Management Company agreed to be acquired by CBRE, which previously had a 40 percent equity interest in Industrious, at an implied enterprise valuation of approximately $800 million.
Industrious will become a part of CBRE’s newly created business segment called “Building Operations & Experience,” which will unify building operations, workplace experience and property management; and Industrious’ founder, Jamie Hodari, will become CEO, BOE and Chief Commercial Officer of CBRE.
Founded in 2012, Industrious offers flexible best-in-class workplaces, from private offices to suites, meeting rooms and desks, at more than 200 locations across more than 65 cities globally.
CBRE Group is the world’s largest commercial real estate services and investment company, with the number one global market position in leasing, property sales, outsourcing, property management and valuation. CBRE Group is also the largest commercial property developer in the United States.
The S&C team advising Industrious included Werner Ahlers, Lauren Boehmke, Danielle Schulweis and Spencer Sigalow. Heather Coleman and Alex Capogna advised on executive compensation and benefits matters. David Spitzer, Ellen Kim and Jeremy Zeitschel advised on tax matters. Jay Thornton advised on intellectual property matters. Nicolas Karmin and Adam Fevrier advised on French bankruptcy matters. Renata Hesse, Brad Smith, Shane Palmer and Clea McClellan advised on antitrust matters. Juan Rodriguez and Daniela Hohwieler advised on multijurisdictional competition and similar matters. Annie Ostrager advised on certain litigation matters. Nicholas Menillo advised on D&O insurance matters. Matt Brennan advised on environmental matters.