Adaptive re-use is not a new concept, but market fundamentals are fueling new investment and development. Due in some part to COVID-19 and the trend towards work from home or hybrid work models, vacancies for office properties are up in many core/urban markets which is creating opportunities for some developers to target new re-use development projects or strengthen investment in existing re-use properties.
From a purely financial risk perspective, taking an existing property and using an adaptive-reuse…
