Skip Ribbon Commands
Skip to main content

Apartments have equally dominated recent and planned office and industrial conversions

​​

•From the heart of downtown to the surrounding suburbs, tired office, industrial, and retail product has been quickly targeted by developers as a way to avoid a ground up venture. In fact, nearly 19% of the projects completed within the last two years or slated to take off soon will renovate or retrofit existing underperforming product. Not surprisingly, apartment uses account for roughly 85% of all office and industrial conversions, as prime sites (especially downtown), also offer vacant or near vacant buildings in need of some TLC.

•This activity represents a natural real estate phenomenon that is quite crucial to the success of a developing region – the purging of underperforming product that tie up prime locations, suppresses rental rates, and diminish the perception of
an area.​




Get our latest insights

Subscribe

Connect with us