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More adaptive reuse projects than ground-up developments

  • ​Ground-up office development remains exceptionally light relative to the size of the market accounting for only 1.5 million square feet or less than  0.1 percent of the total office inventory. 
  • Developers have instead gravitated towards adaptive-reuse projects. Currently, there is 4.9 million square feet of product being converted into creative office.  Part of the reason is the strong demand from creative users for unique and differentiated product.  

Source: JLL Research

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