Thesis Driven Leader Series CBRE's $800M Office Bet: Industrious' Jamie Hodari on the Future of Work
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May 18, 2025 In this lively discussion, Jamie Hodari, CEO at CBRE and founder of Industrious, shares insights from leading his company through a landmark $800M acquisition. He highlights what set Industrious apart from competitors like WeWork, emphasizing the shift from leases to management contracts in office spaces. Hodari explores how hybrid work models shape tenant desires, the importance of location, and engaging designs inspired by Disney. He also shares how today's office strategies should reflect community-oriented experiences and the integration of mixed-use developments.
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Stable Model Beats Risky Leverage
- The flex office sector's volatility stemmed from risky lease-based business models leveraged for rapid growth.
- Industrious succeeded by focusing on a stable management contract model, avoiding excessive leverage and unprofitable scaling.
Bootstrapped Start Shaped Growth
- Industrious initially bootstrapped its first dozen locations without venture capital.
- This approach helped them skip traditional Silicon Valley VC pressures, allowing for measured, growth equity funding later.
From Flex Office to Experience
- Industrious evolved from a flex office provider into a workplace experience platform.
- They now run shared amenities and workplace experiences across various office settings, not just flexible desks.