CBRE Acquires 35% Stake in Flexible Workspace Firm Industrious
- WeWork rival counts Brookfield Properties, CPPIB among backers
- Company’s value has climbed despite headwinds faced by rivals
Source: Industrious
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CBRE Group Inc. has acquired a 35% stake in Industrious ahead of the flexible workspace provider’s potential initial public offering this year.
“We are big believers in the flexible workspace arena and see a tremendous opportunity -- we have a huge global occupier business and know that more than 80% of them want to be in multi-tenant offices with flex space,” CBRE Group Chief Executive Officer Bob Sulentic said in an interview.