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Recent Explore searches: industrious Β· What will you find today?

πŸš€ CBRE acquires Industrious to create BOE segment
CBRE has acquired 100% of Industrious. High level deal points include: 100% acquisition; $800M Expand πŸ‘‡ valuation; Jamie Hodari stays on as CEO and take on global role at CBRE overseeing 95,000 employees managing over 7,000,000,000 sqft of space. The firm will create a new segment called Building Operations & Experience – unifying building operations, workplace experience and property management services.
ICYMI: Since 2020 CBRE had bought roughly 40% of Industious, and given a $100M convertible note. The remainder of the company is being acquired for around $400M.
πŸ‡ΈπŸ‡¬ Lendlease partners with Singaporean firm
Lendlease has formed a partnership with Singapore-based coworking operator The Great Room to convert Expand πŸ‘‡ two floors (2,356 square meters) of its One O’Connell Street building in Sydney into flexible workspace.
ICYMI: The Great Room, which was acquired by Industrious in 2022, entered the Australian market earlier this year at 85 Castlereagh Street and has achieved over 70% occupancy within its first few months. The expansion comes as Sydney’s CBD sees increasing demand for flexible workspace solutions, with The Great Room planning to focus on further Sydney expansion before considering other Australian cities.
πŸ‡«πŸ‡· US brand closes last 3 locations in France
Industrious has announced that they’ve closed their last 3 locations in Paris, France and dissolved Expand πŸ‘‡ their French entity quoting over saturation of the market and difficulties maintaining sufficient profitability.
🏒 BXPs new amenity center to be managed by Industrious
Industrious recently shared that they are partnering with BXP (formerly Boston Properties) on a new Expand πŸ‘‡ amenity center named Mosaic, located at Embarcadero Center in San Francisco.
Add "amenity center" to the list of trendy terms to cover a whole swath of different types of spaces focused on gatherings, meetings and activity/interaction based work.
🚊 Deutsche Bahn to close their coworking locations
Deutsche Bahn has announced the closure of its coworking initiative by the end of 2024. Despite Expand πŸ‘‡ initially opening spaces in several major German train stations like Berlin and Hamburg, the service will be discontinued due to insufficient demand, and following large losses. The closure affects multiple locations across the country, marking the end of Deutsche Bahn’s venture into flexible workspaces at state-owned transport hubs.
We’re seeing a trend where coworking or flex workspace offerings are being bundled with work travel, such as the new partnership with Industrious and Delta Airlines. While DB’s spaces might have been overly designed, designing them prior to covid and then opening them in the height of the pandemic might have been too much to overcome to be profitable.

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