Why Industrious Outlasted WeWork—and What Comes Next for the Office

• Outworked: Industrious has steadily outpaced its co-working competitors. Founder Jamie Hodari shares his perspective on what has driven the company’s success.

• Coin con: The SEC has charged executives of Unicoin for false claims about the value of the real estate that backs their tokens.

• Rite sizing: Landlords are not happy about the secretive process that Rite Aid is using when selecting which locations to keep in their bankruptcy proceedings.

Perspectives

Why Industrious Outlasted WeWork—and What Comes Next for the Office

In an industry marked by rapid expansion and sudden collapses, Industrious has charted a steady course to success. While competitors like WeWork pursued aggressive growth strategies, Industrious co-founder Jamie Hodari emphasized operational discipline and sustainable scaling. By favoring management contracts over traditional leases, the company minimized risk and built a resilient business model. This approach not only ensured stability during market downturns but also attracted long-term investors who valued unit economics over top-line revenue.

The company's success is rooted in its commitment to creating meaningful workplace experiences. Industrious focuses on blending operational efficiency with a sense of community, drawing inspiration from hospitality models. This philosophy extends beyond aesthetics, aiming to foster environments where individuals feel connected and engaged. Such spaces have proven effective in attracting and retaining talent, even in less central locations.

As part of CBRE's new Building Operations & Experience division, Industrious is poised to influence the future of workplace design. Hodari's vision challenges traditional notions of Class A office spaces, advocating for environments that prioritize human connection and experience. This shift signifies a broader cultural change in how workplaces are perceived and utilized, moving from mere functional spaces to vibrant communities.

Overheard

SEC Alleges Unicoin Overstated Value of Real Estate Backing Its Crypto Token

Charges have been filed against Unicoin executives for what the SEC claims is fraud connected to the $100 million that was raised from more than 1,000 investors. The Securities and Exchange Commission says that Unicoin used false and misleading statements about the value of the real estate that backed their coin. "The real estate assets were worth a mere fraction of what the company claimed, and the majority of the company’s sales of rights certificates were illusory," the complaint read.

The charges also claim that the marketing for the coins, which were displayed everywhere from airports to taxi cabs, claimed that the tokers were "SEC-registered" or "U.S. registered" even though they were not. Additionally, the SEC claims that more than $3 billion worth of rights certificates were sol,d even though only around $110 million was actually raised.

The defendants claim that the charges are "blatantly false" and vowed to fight against what they consider a "gross abuse of power." Under the Trump administration, which is outspokenly pro-crypto, more than 10 crypto-enforcement cases have been dropped. Even still, the SEC shows no signs of backing down from the prosecution of what it considers to be clear violations of the anitfraud provisions of the federal securities laws.

Rite Aid Leaves Landlords In The Dark On Store Sales

As Rite Aid winds down operations following its bankruptcy, uncertainty is mounting for landlords. The company has agreed to sell prescription files from most of its 1,200 stores, with CVS acquiring the data from 625 stores. But CVS will assume only 64 physical locations across three states, and neither party has disclosed which locations are involved.

That opacity is drawing legal pushback. Three landlords—HVP2 LLC, New Hartford Holdings LLC, and Gallashea Properties LLC—have filed a limited objection to Rite Aid’s asset sales, citing a lack of transparency about whether their leased sites are part of the deal. The landlords are not asking for access to patient data but want to know which stores were sold, to whom, and for how much, critical details for the landlords planning their next move.

With more than 200 closures already underway and an auction of remaining assets scheduled for June, Rite Aid’s remaining footprint is quickly vanishing. CVS says it will share more details after the sale is finalized, but for now, many landlords remain in limbo.

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Propmodo Daily is written and edited by Franco Faraudo with contributions from readers like you and the Propmodo team.

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