CBRE Group, Inc. (NYSE:CBRE) has made a new $100 million investment in Industrious, a rapidly growing provider of premium flexible workplace solutions.

CBRE’s new investment will enable Industrious, predominantly focused on the U.S. today, to accelerate its international expansion and execute key strategic growth initiatives. Earlier this month, Industrious announced its first international acquisitions: The Great Room in Asia and Welkin and Meraki in Continental Europe.

CBRE invested approximately $230 million in Industrious in late 2020 and early 2021. The new $100 million investment is in the form of a convertible preferred-equity security. CBRE continues to be the lead minority investor in Industrious.

The investment reflects CBRE’s strong belief in Industrious’ ability to capture a growing share of the rapidly expanding market for flexible office space. Fifty-nine percent of U.S. occupiers say flex-space will be a “significant part” (more than 10%) of their portfolio within two years, according to CBRE’s 2022 occupier survey.