Office Conversion & Demolition

The commercial real estate landscape is shifting. For the first time in decades, more office space is being demolished or converted than newly built. Older and functionally obsolete office properties, especially those struggling with high vacancy rates, are increasingly being reimagined as residential, mixed-use, or alternative spaces or in some cases, torn down altogether.

This trend is reshaping urban markets and creating both risks and opportunities for property owners and investors.

Why This Matters

• Changing Demand: Many tenants are seeking modern, flexible, and amenity-rich spaces, leaving outdated buildings behind.
• Higher Vacancies: Class B and C offices face rising vacancies, reducing cash flow and long-term viability.
• Opportunity in Repurposing: Conversion into apartments, hotels, or retail offers new revenue potential, but requires careful planning, capital, and compliance review.

Related Trends Include:

• Phase 1 Environmental Site Assessment
• Property Condition Assessment
• Commercial Due Diligence
• Corporate Risk Management
• Environmental Compliance

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