Industrious

Last updated
Industrious
Company type Division
Industry Coworking and workplace experience
Founded2012;13 years ago (2012)
Founder Jamie Hodari and Justin Stewart
HeadquartersNew York City [1]
Area served
U.S., Europe, and Asia
Services Coworking spaces
Owner CBRE Group
Website www.industriousoffice.com

Industrious is a workplace experience company headquartered in New York City, that provides coworking and creates flexible office spaces for companies and individuals. It was founded in 2012 and operates in more than 200 locations and 65 cities in the U.S., Europe, and Asia. [2]

Contents

History

Industrious was founded in 2012 by Jamie Hodari and Justin Stewart, two best friends who grew up next door to each other in Michigan, who complained of the low quality of shared office spaces. [1]

The founders raised $1 million from 80 investors to open the first location in Chicago in 2013. [3] Industrious expanded into New York City in 2015 with a Brooklyn location, later moving its headquarters to Manhattan. [4]

In March 2017, the company raised $25 million. [5] [6] In August 2019, the company raised $80 million in Series D funding from Brookfield Property Partners, Canada Pension Plan, TF Cornerstone, Granite Properties, and Equinox Group. [7] In February 2021, CBRE Group invested $200 million and contributed its 10 coworking locations under the brand Hana to Industrious in exchange for a 35% stake in Industrious. [8] In May 2022, CBRE invested an additional $100 million in Industrious. [9]

On January 14, 2025, CBRE announced an agreement to acquire the remaining 60% stake in Industrious that it did not already own, in a transaction valuing the co-working company at approximately $800 million. [10]

Partnerships

Industrious partners with Equinox Group to provide locations near gyms and offer gym memberships as perks to members. [11]

It has a partnership with Wythe Hotel to use hotel rooms as office spaces. [12]

In September 2020, the company announced a partnership with Cushman & Wakefield to provide amenities in properties managed by Cushman & Wakefield. [13]

In September 2022, the company announced a partnership with AvalonBay Communities to open locations in apartment complexes. [14]

Acquisitions

In March 2017, Industrious acquired PivotDesk, a digital flexible workplace platform. [5]

In May 2019, it acquired TechSpace, an office space provider for tech-related companies. [15]

Notable locations

References

  1. 1 2 Juetten, Mary (December 15, 2020). "The Continued Rise Of Offices In A Virtual World: Industrious" . Forbes .
  2. ↑ "New Partnership With Industrious Gives Nuveen Tenants 150 Office Building Options". Bisnow. Retrieved 2024-08-17.
  3. ↑ Janega, James (September 30, 2014). "Industrious takes Chicago's coworking lessons on the road" . Chicago Tribune .
  4. ↑ Dale, Brady (15 April 2015). "Industrious is opening a 20,000-square-foot coworking space in Prospect Heights". Technical.ly. Retrieved 22 May 2024.
  5. 1 2 Magistretti, Bérénice (March 28, 2017). "Industrious acquires PivotDesk and raises $25 million". VentureBeat .
  6. ↑ Constine, Josh (March 28, 2017). "Industrious buys PivotDesk, raises $25M to be WeWork without startup bros". TechCrunch .
  7. ↑ Lash, Herbert (August 22, 2019). "Coworking firm Industrious raises $80 million, sees profit in 2020". Reuters .
  8. ↑ Tan, Gillian (February 22, 2021). "CBRE Acquires 35% Stake in Flexible Workspace Firm Industrious". Bloomberg News .
  9. ↑ Walter-Warner, Holden (May 20, 2022). "CBRE doubles down on flex-office provider Industrious" . The Real Deal .
  10. ↑ Grant, Peter. "Exclusive | Giant Commercial-Property Firm Goes All In on Co-Working With New Deal". WSJ. Retrieved 2025-04-09.
  11. ↑ Putzier, Konrad (May 14, 2019). "Equinox Gyms to Add Co-Working to the Workout" . The Wall Street Journal .
  12. ↑ Sperance, Cameron (February 1, 2021). "Coworking Providers and Hotels Tighten Partnerships as Pandemic Still Weighs Heavy". Skift .
  13. ↑ "CUSHMAN & WAKEFIELD COLLABORATES WITH INDUSTRIOUS TO LAUNCH NEW INTEGRATED PROPERTY MANAGEMENT SERVICE" (Press release). September 15, 2020.
  14. ↑ Farr, Isabella (September 26, 2022). "Industrious adds apartment sites to coworking footprint" . The Real Deal .
  15. ↑ Stateman, Alison (2 May 2019). "Industrious Buys TechSpace, Adding Seven New Locations to Portfolio". Commercial Observer .
  16. ↑ Brown, Steve (January 16, 2020). "Downtown Dallas coworking firm Industrious is expanding its footprint". Dallas News .
  17. 1 2 3 Reader, Ruth (April 18, 2019). "There's a new use for America's dying malls: co-working". Fast Company .
  18. ↑ Matsuda, Akiko (February 5, 2021). "Flex-Office Provider Industrious Expands As Industry Contracts" . The Real Deal .
  19. ↑ "Industrious Inks Lease at Backstone's Willis Tower" . The Real Deal . October 12, 2020.
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