Industrious
{{Short description|American provider of coworking spaces}}
{{Infobox company
| name = Industrious
| logo = Industrious logo.png
| logo_caption =
| logo_alt = Industrious logo
| type = Division
| industry = Coworking and workplace experience
| founded = {{Start date and age|2012}}
| founder = Jamie Hodari and Justin Stewart
| area_served = U.S., Europe, and Asia
| key_people =
| services = Coworking spaces
| owner = CBRE Group
| website = {{URL|https://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.{{Cite web |title=New Partnership With Industrious Gives Nuveen Tenants 150 Office Building Options |url=https://www.bisnow.com/national/news/coworking/nuveen-industrious-expand-hybrid-work-model-to-all-us-locations-123215 |access-date=2024-08-17 |website=Bisnow |language=en}}
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.{{Cite news | url=https://www.forbes.com/sites/maryjuetten/2020/12/15/the-continued-rise-of-offices-in-a-virtual-world-industrious/ | title=The Continued Rise Of Offices In A Virtual World: Industrious | first=Mary | last=Juetten | work=Forbes | date=December 15, 2020 | url-access=limited}}
The founders raised $1 million from 80 investors to open the first location in Chicago in 2013.{{cite news |last=Janega |first=James |title=Industrious takes Chicago's coworking lessons on the road |url=https://www.chicagotribune.com/business/blue-sky/chi-industrious-coworking-hodari-stewart-bsi-story.html | work=Chicago Tribune | date=September 30, 2014 | url-access=limited}} Industrious expanded into New York City in 2015 with a Brooklyn location, later moving its headquarters to Manhattan.{{cite news |last1=Dale |first1=Brady |date=15 April 2015 |title=Industrious is opening a 20,000-square-foot coworking space in Prospect Heights |url=https://technical.ly/uncategorized/industrious-coworking-space-prospect-heights/ |access-date=22 May 2024 |publisher=Technical.ly}}
In March 2017, the company raised $25 million.{{Cite news | url=https://venturebeat.com/entrepreneur/industrious-acquires-pivotdesk-and-raises-25-million/ | title=Industrious acquires PivotDesk and raises $25 million | first=Bérénice | last=Magistretti | work=VentureBeat | date=March 28, 2017}}{{cite news |last=Constine |first=Josh |title=Industrious buys PivotDesk, raises $25M to be WeWork without startup bros |url=https://techcrunch.com/2017/03/28/industrious-office-space/ |work=TechCrunch | date=March 28, 2017}} 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.{{cite news | last=Lash | first=Herbert |title=Coworking firm Industrious raises $80 million, sees profit in 2020 |url=https://www.reuters.com/article/us-usa-property-industrious-raising/coworking-firm-industrious-raises-80-million-sees-profit-in-2020-idUSKCN1VC1U3 |work=Reuters |date=August 22, 2019}} 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.{{cite news | last=Tan |first=Gillian |title=CBRE Acquires 35% Stake in Flexible Workspace Firm Industrious | url=https://www.bloomberg.com/news/articles/2021-02-22/cbre-acquires-35-stake-in-flexible-workspace-firm-industrious |work=Bloomberg News |date=February 22, 2021}} In May 2022, CBRE invested an additional $100 million in Industrious.{{cite news | url=https://therealdeal.com/new-york/2022/05/20/cbre-doubles-down-on-flex-office-provider-industrious/ | title=CBRE doubles down on flex-office provider Industrious | first=Holden | last=Walter-Warner | work=The Real Deal | date=May 20, 2022 | url-access=limited}}
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.{{Cite web |last=Grant |first=Peter |title=Exclusive {{!}} Giant Commercial-Property Firm Goes All In on Co-Working With New Deal |url=https://www.wsj.com/real-estate/commercial/giant-commercial-property-firm-goes-all-in-on-co-working-with-new-deal-f0b036fe |access-date=2025-04-09 |website=WSJ |language=en-US}}
=Partnerships=
Industrious partners with Equinox Group to provide locations near gyms and offer gym memberships as perks to members.{{cite news | last=Putzier | first=Konrad |title=Equinox Gyms to Add Co-Working to the Workout | url=https://www.wsj.com/articles/pilates-spinning-furnished-office-space-equinox-adds-co-working-11557838921 | work=The Wall Street Journal |date=May 14, 2019 | url-access=subscription}}
It has a partnership with Wythe Hotel to use hotel rooms as office spaces.{{cite news |last1=Sperance |first1=Cameron |title=Coworking Providers and Hotels Tighten Partnerships as Pandemic Still Weighs Heavy |url=https://skift.com/2021/02/01/coworking-providers-and-hotels-tighten-partnerships-as-pandemic-still-weighs-heavy/ | work=Skift |date=February 1, 2021}}
In September 2020, the company announced a partnership with Cushman & Wakefield to provide amenities in properties managed by Cushman & Wakefield.{{cite press release | url=https://www.cushmanwakefield.com/en/united-states/news/2020/09/cw-collaborates-with-industrious | title=CUSHMAN & WAKEFIELD COLLABORATES WITH INDUSTRIOUS TO LAUNCH NEW INTEGRATED PROPERTY MANAGEMENT SERVICE |date=September 15, 2020}}
In September 2022, the company announced a partnership with AvalonBay Communities to open locations in apartment complexes.{{cite news | url=https://therealdeal.com/la/2022/09/26/industrious-adds-apartment-sites-to-coworking-footprint/ | title=Industrious adds apartment sites to coworking footprint | first=Isabella | last=Farr | work=The Real Deal | date=September 26, 2022 | url-access=limited}}
=Acquisitions=
In March 2017, Industrious acquired PivotDesk, a digital flexible workplace platform.
In May 2019, it acquired TechSpace, an office space provider for tech-related companies.{{cite news |last1=Stateman |first1=Alison |title=Industrious Buys TechSpace, Adding Seven New Locations to Portfolio |url=https://commercialobserver.com/2019/05/industrious-buys-techspace-adding-seven-new-locations-to-portfolio/ |work=Commercial Observer |date=2 May 2019}}
Notable locations
- One Arts Plaza in Dallas{{cite news |last=Brown |first=Steve | title=Downtown Dallas coworking firm Industrious is expanding its footprint |url=https://www.dallasnews.com/business/real-estate/2020/01/16/downtown-dallas-coworking-firm-industrious-is-growing-its-footprint/ | work=Dallas News |date=January 16, 2020}}
- Scottsdale Fashion Square
- The Mall at Short Hills
- Broadway Plaza in Walnut Creek{{cite news | last=Reader |first=Ruth |title=There's a new use for America's dying malls: co-working |url=https://www.fastcompany.com/90336284/theres-a-new-use-for-americas-dying-malls-co-working | work=Fast Company | date=April 18, 2019}}
- Carnegie Hall Tower{{cite news |last=Matsuda |first=Akiko |title=Flex-Office Provider Industrious Expands As Industry Contracts |url=https://therealdeal.com/2021/02/05/as-flex-office-space-contracts-industrious-grows-nyc-footprint/ | work=The Real Deal |date=February 5, 2021 | url-access=limited}}
- Willis Tower{{cite news | url=https://therealdeal.com/chicago/2020/10/12/industrious-inks-big-lease-at-blackstones-willis-tower/ | title=Industrious Inks Lease at Backstone's Willis Tower | work=The Real Deal | date=October 12, 2020 | url-access=limited}}
References
{{Reflist}}
External links
- {{Official website|https://www.industriousoffice.com/}}
Category:American companies established in 2012