As part of the acquisition, CBRE will create a new business division called Building Operations & Experience (BOE). This new division will integrate building operations, workplace experience, and property management, positioning CBRE to deliver scalable, ready-made solutions for offices, data centers, warehouses, and other facilities.
The transaction is expected to be completed later this month.
“The developments we announced today support our strategy to invest in resilient businesses that benefit from long-term trends, create new and differentiated products, and continuously enhance the capabilities of our leadership team,” said Bob Sulentic, President and CEO of CBRE.
“The global economy requires physical spaces to operate – safe and efficient logistics hubs for goods, attractive offices for teams, and secure and resilient data centers for its information. Properly operating these spaces requires expertise at scale,” said Hodari. “I believe the new Building Operations & Experience division will transform the way buildings operate, creating significant value for users and property owners.”
Since late 2020, CBRE has invested in Industrious through a roughly 40% equity stake and a $100 million convertible bond.
The company will acquire the remaining stake for approximately $400 million (€385 million), reflecting an implied valuation of the business at around €790 million.
Industrious is known for its pioneering business model – without owned real estate – which emphasizes partnership agreements that align the interests of users and property owners.
Since 2021, Industrious’s revenue has grown at an annual rate of over 50%, and its footprint has expanded to more than 200 locations across over 65 cities. Its leadership results with clients are attributed to ongoing investments in understanding what makes a workspace exceptional, combined with continuous operational improvements.
The new BOE division will be led by Jamie Hodari, current CEO and co-founder of Industrious, and will include CBRE’s Enterprise Facilities Management, Local Facilities Management, Property Management, and Industrious services. This division generated approximately $20 billion in combined revenue, including Industrious, in 2024 and covers CBRE’s entire global property and corporate facilities management portfolio, exceeding 700 million square meters worldwide.
CBRE’s Chief Operating Officer, Vikram Kohli, has been promoted and given expanded responsibilities. He now holds the title of CEO, Advisory Services, responsible for the development of CBRE’s largest business division, which encompasses leasing, capital markets, and valuation activities.
As Chief Operating Officer, Kohli will drive the company’s strategy and ensure CBRE maximizes opportunities for collaboration, efficiency, and positive synergies between business divisions and core operational platforms.
