Industrious
Industrious is a workplace-experience company that operates coworking and flexible office spaces for businesses and individuals.
Last updated August 31, 2026
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Overview
Industrious is a flexible-workspace and workplace-experience company headquartered in New York City. Founded in 2012 by childhood friends Jamie Hodari and Justin Stewart, the company was created in response to what the founders viewed as shortcomings in conventional shared offices, especially the quality of hospitality, design, service, and professional experience offered to members. Rather than positioning coworking solely as a low-cost desk-rental product, Industrious developed a more service-oriented model aimed at companies, professionals, and teams seeking furnished offices, meeting facilities, hospitality services, and flexible occupancy arrangements. The company opened its first location in Chicago in 2013 after raising approximately $1 million from a group of investors. It entered the New York market in 2015 with a location in Brooklyn and subsequently moved its headquarters to Manhattan. During the second half of the 2010s, Industrious expanded through a combination of new-site development, partnerships with property owners and operators, and acquisitions. It raised $25 million in 2017 and completed an $80 million Series D financing in 2019. The 2019 round included participation from Brookfield Property Partners, Canada Pension Plan, Tishman Speyer's TF Cornerstone, Granite Properties, and Equinox Group. Industrious also broadened its capabilities through acquisitions. In 2017 it acquired PivotDesk, a digital platform for flexible workplace arrangements, and in 2019 it acquired TechSpace, a provider associated with office space for technology companies. These transactions complemented its physical-location strategy with software, customer, and specialized-office capabilities. A major change in ownership and scale occurred in 2021, when CBRE Group invested $200 million in Industrious and contributed ten Hana coworking locations. The transaction gave CBRE a 35 percent interest in the company and connected Industrious more closely with one of the world's largest commercial real-estate services firms. CBRE invested a further $100 million in 2022. This relationship supported Industrious's expansion within office properties and helped integrate flexible workspace into a broader real-estate platform. The brand has also pursued partnerships designed to extend the workplace experience beyond conventional office buildings. Its relationship with Equinox Group has connected Industrious locations with nearby fitness facilities and offered gym-related benefits to members. A partnership with Wythe Hotel made hotel rooms available for office use, while agreements with Cushman & Wakefield and AvalonBay Communities supported workplace amenities in managed commercial properties and apartment complexes. The company opened its first Canadian location in 2022. According to the cited reference material, Industrious operates more than 200 locations across 65 cities in the United States, Canada, Europe, and Asia. Locations mentioned in reference material include sites at One Arts Plaza in Dallas, Scottsdale Fashion Square, The Mall at Short Hills, Broadway Plaza in Walnut Creek, Carnegie Hall Tower, and Willis Tower. Its offering is oriented toward flexible offices, coworking areas, meeting rooms, and related workplace services rather than the sale of physical consumer goods. On January 14, 2025, CBRE announced an agreement to acquire the remaining 60 percent of Industrious that it did not already own. The proposed transaction valued Industrious at approximately $800 million. The available material describes this as an announced agreement; it does not establish a completed closing date or the company's post-closing legal structure.
History
Industrious was established in 2012 by Jamie Hodari and Justin Stewart, childhood friends from Michigan who wanted to create a higher-quality alternative to the shared offices then available in the market. Their concept emphasized not only workspace access but also design, hospitality, member service, and a professional environment suitable for companies and individuals. The company raised approximately $1 million from 80 investors and opened its first location in Chicago in 2013. It expanded to New York in 2015 through a Brooklyn location and later moved its headquarters to Manhattan. This early expansion established the company's basic operating model: build or operate professionally designed flexible offices in prominent commercial properties and combine physical workspace with hospitality-oriented services. Industrious raised $25 million in March 2017. That year it also acquired PivotDesk, a digital flexible-workplace platform. The transaction gave Industrious an additional technology and marketplace capability alongside its physical locations. In May 2019, the company acquired TechSpace, an office-space provider serving technology-related businesses. Later in 2019, Industrious raised $80 million in Series D financing. Investors identified in the reference material included Brookfield Property Partners, Canada Pension Plan, TF Cornerstone, Granite Properties, and Equinox Group. The company's relationships with real-estate and hospitality businesses became an important part of its development. Its Equinox partnership connected locations with nearby fitness facilities and included gym-related benefits for members. Industrious also worked with Wythe Hotel to make hotel rooms usable as offices. In September 2020, it announced a partnership with Cushman & Wakefield to provide amenities in properties managed by that company. In September 2022, it announced a partnership with AvalonBay Communities to open locations in apartment complexes, extending flexible work into residential environments. CBRE became a strategic investor in February 2021. It invested $200 million in Industrious and contributed ten Hana coworking locations in return for a 35 percent stake. CBRE made another $100 million investment in May 2022. The relationship linked Industrious's workplace brand and operating platform with CBRE's global commercial-real-estate network. Industrious opened its first Canadian location in 2022. The cited material describes the company as operating more than 200 locations in 65 cities across the United States, Canada, Europe, and Asia; it specifically notes two Toronto coworking locations as of 2026. The brand's named locations include One Arts Plaza in Dallas, Scottsdale Fashion Square, The Mall at Short Hills, Broadway Plaza in Walnut Creek, Carnegie Hall Tower, and Willis Tower. These examples reflect its preference for high-profile office, retail, and mixed-use properties. On January 14, 2025, CBRE announced an agreement to purchase the remaining 60 percent of Industrious that it did not already own. The announced transaction valued the company at about $800 million. The available reference does not provide sufficient information to confirm whether the transaction had closed, its final ownership structure, or any resulting executive changes.
- 2025
CBRE announces agreement to acquire remaining stake
[1]CBRE announces an agreement to acquire the remaining 60 percent of Industrious at an announced valuation of approximately $800 million.
- 2022
Canadian expansion and additional CBRE investment
[1]Industrious opens its first Canadian location, while CBRE invests an additional $100 million.
- 2021
CBRE becomes a major strategic investor
[1]CBRE invests $200 million and contributes ten Hana locations for a 35 percent stake in Industrious.
- 2019
TechSpace acquisition and Series D financing
[1]Industrious acquires TechSpace and raises $80 million in Series D financing.
- 2017
Financing and PivotDesk acquisition
[1]The company raises $25 million and acquires PivotDesk, a digital flexible-workplace platform.
- 2015
Expansion into New York
[1]Industrious enters New York with a Brooklyn location and later relocates its headquarters to Manhattan.
- 2013
First location opens in Chicago
[1]After raising approximately $1 million from 80 investors, Industrious opens its first workplace location in Chicago.
- 2012
Industrious is founded
[1]Jamie Hodari and Justin Stewart establish Industrious to develop a more service-oriented model for shared and flexible office space.
Products and positioning
A hospitality-led flexible-workspace brand focused on professionally designed offices, service quality, and adaptable workplace arrangements for individuals, teams, companies, and commercial-property partners.
Flexible workspace
Private offices
Furnished, professionally managed offices intended for individuals, small businesses, and teams that need dedicated space without committing to a conventional long-term office lease.
Flexible workspace
Coworking memberships
Membership-based access to shared work environments across Industrious locations, supported by workplace services and hospitality-oriented amenities.
Business facilities
Meeting and conference rooms
Bookable meeting and conference facilities for members and organizations requiring professional spaces for collaboration, presentations, and client meetings.
Managed workspace
Enterprise workplace solutions
Flexible office and workplace arrangements for companies and real-estate partners, including the operation of amenities and work environments within commercial and residential properties.
Brand decisions
2025
Agreement for CBRE to acquire the remaining ownership interestM&ABackground
CBRE already held a substantial minority interest and announced plans to consolidate ownership of Industrious.
Action taken
CBRE announced an agreement to acquire the remaining 60 percent of Industrious at an announced valuation of approximately $800 million.
Aftermath
The available material does not confirm the closing date or final post-transaction corporate structure.
Announced company valuation. Approximately $800 million (January 14, 2025)
2021
CBRE strategic investment and Hana contributionM&ABackground
CBRE sought a substantial position in flexible workspace and a closer connection between its property platform and Industrious's operating model.
Action taken
CBRE invested $200 million and contributed ten Hana coworking locations in exchange for a 35 percent stake in Industrious.
Aftermath
The transaction made CBRE a major strategic stakeholder and expanded Industrious's operating footprint.
CBRE investment. $200 million (February 2021)
2019
Acquisition of TechSpaceM&ABackground
Industrious was growing its network and expanding its relevance to technology-oriented businesses.
Action taken
Industrious acquired TechSpace, an office-space provider associated with technology companies.
Aftermath
The transaction added TechSpace's office-space capabilities to Industrious's flexible-workplace portfolio.
2017
Acquisition of PivotDeskM&ABackground
Industrious was expanding beyond physical coworking locations and sought additional digital flexible-workplace capabilities.
Action taken
The company acquired PivotDesk, a digital platform for flexible workplace arrangements.
Aftermath
The acquisition became part of Industrious's broader combination of physical offices and flexible-workplace technology.
Recent events
- Unconfirmed
Reported
CBRE acquires 35% stake in Industrious[2]
CBRE acquired a 35 percent interest in flex-space provider Industrious, with an option to increase its investment to a 40 percent stake. The consideration included approximately $200 million in cash and the transfer of Hana.
Reported
Industrious announces member-service partnerships[3]
Industrious announced new partnerships with service providers to offer members health, wellness, and lifestyle services while they work from home. The article identifies BetterHelp, Parsley Health, and Brain.fm as partners.
Sources3 sources
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