Jan 14 (Reuters) - Real estate services firm CBRE Group ( CBRE )

said on Tuesday it will acquire the 60% stake it does

not already own in flexible workspace provider Industrious

National Management Company for $400 million.

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 new unit will be headed by Jamie Hodari, Industrious'

chief executive officer and co-founder.

Industrious, founded in 2012, offers flexible workplaces at

more than 200 locations in over 65 cities globally.

CBRE's ( CBRE ) increased investment in Industrious comes as the U.S.

office property market shows signs of recovery after being

severely impacted by the COVID-19 pandemic and the shift to

remote work.

The deal values Industrious at approximately $800 million,

including debt. CBRE's ( CBRE ) previous investments in the company

include a 40% equity stake as a $100 million convertible note.

CBRE ( CBRE ) also said that COO Vikram Kohli will now also hold

the title of CEO of the company's Advisory Services division.