CBRE Group, Inc. (NYSE: CBRE) today announced a definitive agreement to acquire Industrious National Management Company, LLC, a leading provider of flexible workplace solutions. In conjunction with the acquisition,

Dallas-based commercial real estate firm CBRE Group Inc. (NYSE: CBRE) said Tuesday it will acquire New York-based coworking company Industrious National Management Company LLC.

The company said it will also create a new business segment called Building Operations & Experience, which will integrate its building operations, workplace experience, and property management.

The commercial real estate giant has agreed to buy Industrious in a deal that values the coworking firm at about $800 million.

Dallas-based real estate services firm CBRE has taken control of co-working firm Industrious — a bet on shared working space as more employees return to

Dallas-based CBRE had previously invested in Industrious—a flexible workspace provider with more than 200 units across over 65 cities—through a roughly 40% equity interest and a $100 million convertible note.

The brokerage giant will pay roughly $400M to complete its acquisition of the coworking firm, which has more than 200 locations across 65 cities.