Adaptive reuse has moved beyond the confines of New York, Washington D.C., Chicago, and other major markets. In 2021, more than 13,000 units of multi-family were created from existing office product, and it’s estimated to do the same in 2022. The trend for converting existing stock for a different use has already reached the sunbelt locations—particularly in the hardest hit office markets.
Preston Young, National Head of Office Investor Services & Partner, shares his insights into why office adaptive reuse is gaining momentum across the U.S.
Preston explores how the liabilities of a vacant building can be mitigated when attention is paid to the patterns of a continually shifting market.
Watch the video to learn how adaptive reuse is adding much more than just residential units to downtown areas with shifting population densities, amenity offerings, and vibrancy—and what this shift could mean for the wider commercial office market.