Page 10 - February 19-March 4, 2025 www.crej.com Office In an industry of standards, it's our differences that make us Sparkle. If we can help with anything at all, please contact Sparkle@VivrantClean.com or 303.829.2599 for listening, and stopping by our booth at the CREJ Property Management Conference. We hope to see you all again, and that you enjoy a prosperous 2025. Thank You by Avalon Jacka DALLAS – A Dallas-based commercial real estate services and investment firm announced it will acquire a flexible workplace solutions provider. CBRE Group Inc. agreed in January to acquire Industrious National Management Company LLC. Since 2020, CBRE has invested in Industrious through an approximately 40% equity interest and a $100 million convertible note. CBRE will acquire the remaining equity stake for approximately $400 million. CBRE will also create a new business segment called Building Operations & Experience, led by Jamie Hodari, Industrious CEO and co-founder. Hodari will also act as CBRE’s chief commercial officer, responsible for marketing and branding activities across all CBRE businesses. “The global economy needs physical spaces to make it hum – safe and efficient logistics centers for our goods, magnetic offices for our teams, and secure and resilient data centers for our information,” said Hodari. “Running these spaces with excellence requires sophistication at scale. I have found CBRE to be second to none in this respect, and I’m thrilled to be joining – not just because of how great it already is, but because of the opportunity ahead of us. I believe the new Building Operations & Experience segment will transform how buildings are operated, creating immense value for building users and owners.” The new segment will unify building operations, workplace experience and property management, consisting of CBRE’s Enterprise Facilities Management, Local Facilities Management, Property Management and Industrious. CBRE’s entire 7 billion-square-foot global property and corporate facilities management portfolio comprises the segment. In 2024, it produced approximately $20 billion of combined revenue. Industrious is known for its asset-light business model that emphasizes partnership agreements, driving alignment with property owners. Since 2021, the company’s revenue has grown at a compound annual rate of more than 50%, and its footprint has grown to more than 200 units across more than 65 cities. Industrious has three locations in Colorado, at 1801 California St. in Denver’s central business district, 2128 W. 32nd Ave. in Denver’s Lower Highland neighborhood, and 1919 14th St., adjacent to Pearl Street Mall in Boulder. s CBRE acquires Industrious, creates new business segment and hotels. The asset is located approximately 2 miles from the Interstate 25-East Harmony Road interchange. n DENVER – A Colorado-based development management firm leased a new office space in Cherry Creek. The Wells Partnership Co. signed a lease for 3,703 sf of office space at Ptarmigan at Cherry Creek, located at 3773 Cherry Creek North Drive. The building’s amenities include a fitness facility, a conference room, a training room, a loading dock, day porter janitorial services and a Daz Bog coffee shop. Amanda Tompkins of Henry Group Real Estate represented the tenant in the transaction, and Michael Pavlakovich of Cushman & Wakefield represented the landlord, which is listed as HTDPtarmigan Place LLC on Denver County public records. The Wells Partnership specializes in development management, owner representation and real estate advisory services. Its team has experience in design, construction and real estate finance. n PARKER – An automotive service operator leased a flex/ office space in the Creekside neighborhood. Automotive Operations Group LLC leased 1,365 sf at 18648 Longs Way from Vakantie Holdings LLC. Built in 2007, the fully sprinklered property features 400amp, 3-phase power and 9-foot clear height, according to a leasing brochure. Trevey Commercial Real Estate facilitated the lease. Trevey’s Heath Honbarrier helped the landlord backfill the unit with no downtime. Trevey’s Tommy Daher helped the tenant secure a long-term lease to use the space as its company office. Founded in 2006, Automotive Operations Group operates Grease Monkey franchises across Colorado, and Family Tire Pros franchises in Colorado, California and Indiana, according to its LinkedIn page. n METRO DENVER – The Denver coworking market demonstrated growth in fourth-quarter 2024, according to a recent quarterly report on the industry. The Denver market added four coworking spaces by the end of the quarter, bringing the total to 232 total spaces in the metro area, according to research from CoworkingCafe. The growth equates to a 2% growth quarter over quarter. The national market saw a 2% increase from the previous quarter, reaching 7,695 spaces. The Denver market added 29 coworking spaces from fourthquarter 2023 to fourth-quarter 2024, a 14% increase year over year. The Denver market’s total square footage dropped by 3% from the previous quarter, falling from 3.66 million sf in the third quarter to 3.55 million sf. The average square footage dropped as well, highlighting the market’s preference for smaller coworking spaces; The average square footage decreased by 5% quarter over quarter from 16,086 sf in the third quarter to 15,303 sf in the fourth quarter. s Assured Partners Continued from Page 8 Amanda Tompkins
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