Adaptive reuse is the conversion of a building from its original purpose to a new one, most prominently transforming obsolete office, retail, or industrial buildings into residential or mixed-use space, then profiting from the gap between the cheap, functionally obsolete building and the far...
Log in to followTwo ways to control an obsolete building while you find out whether it converts, and I've priced both this year on similar boxes. One: buy it. You get a price that reflects the fa…
Two buildings I've read files on recently, and the people advising each one were confident in opposite directions. The office case: 1960s three story, roughly 12,000 sf floor plat…
9,000 sf, two story, was a furniture showroom until about 2016 and has been half empty since. Upstairs converts reasonably cleanly to six one bedrooms. The ground floor is the arg…
I'm putting together a paid feasibility screen for operators looking at obsolete office and retail stock, and I can't get two clients to agree on what the first deliverable should…
I'm putting together a screening service for people looking at obsolete office and retail buildings, and I've hit a question I can't settle on my own, so I'd rather ask the room t…
I want the boring thing that works, and a conversion is not that, but a small one came across my desk and I looked at it seriously for about ten weeks. Single story former bank br…
Sitting with a 1978 concrete frame office building, 11 floors, 22,000 sf plates, post-tensioned slabs. Perimeter glazing is continuous strip window, sill at 30 inches, so the dayl…
I have one rental closing soon and I have been reading way outside my level, which is probably the problem. What I picked up: there's a huge glut of old office buildings, some are…
Under contract on a 30,000 square foot former grocery anchor in a tired strip center, small city, $1.1M. Building is single story, 1987, steel frame, clear span, 22 foot bays. Pla…
I wanted something concrete instead of more spreadsheets, so I drove around and wrote down every obsolete looking building within twenty minutes of me. Here's what I actually have…
This was supposed to be my careful first deal. Two story masonry storefront in a small city downtown, retail on the ground floor that had been vacant for four years, second floor…
Putting this up because I read a lot of conversion threads before I wrote the check and I didn't read enough of these. Two story masonry building from 1926, ground floor was a ban…
I mostly do land and zoning and I'm trying to get the vocabulary straight before I embarrass myself in front of a planner. I see "adaptive reuse" used for a warehouse becoming lof…
A broker forwarded me a two story former medical office, about 11,000 sf, asking around $58/sf in a small city where finished two bedrooms lease fine. My first thought was that it…
I've spent the last few months reading conversion pitches from the capital side and the split between them is sharper than I expected. One group underwrites the building on its ow…
Long holds are my usual thing so this was out of pattern for me, and I want to write it down while the numbers are still fresh. Single story plus mezzanine light industrial buildi…
I'm new at this, so here's the beginner question from the back of the room. When people here talk about conversions the numbers are in the millions. I want to know what the floor…
I'm brand new here, so treat me accordingly, but a broker who knows I'm looking sent me a package and I'd rather learn on a real set of numbers than a blog post. 1962 office build…
A broker sent me a three story office building from 1963, about 22,000 gross square feet, asking $1.4M. That's $64 a foot for a structurally sound building, which sounds like a gi…
I'm modeling a 24 unit conversion out of a 1970s office building, all-in around $4.6m, and the two exits produce different projects, not just different returns. Sell at certificat…