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Real Estate

Brian Miller
Real Estate Editor
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February 25, 2021

On the Block: Wait, you mean coworking hasn't been killed by the pandemic?

CBRE recently announced that it will purchase a 35% stake in Industrious, a purveyor of short-term and flexible offices (aka coworking space), in a sector made notorious by WeWork's IPO debacle not long before the pandemic hit. Since COVID-19 has gripped the country, most of those bench and shared desk operations have been deserted — just like traditional long-lease offices.

For most of corporate America, work-from-home has been the de facto flexible office solution for the past 12 months. Yet with the ongoing vaccine rollout and possible return to normalcy by year's end, maybe the CBRE deal is a bellwether for a different kind of office rebound.

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