A study by CommercialSearch, the latest addition to the CommercialEdge network of marketplaces, takes a look at the trend of office adaptive reuse. 4,283 offices were created through adaptive reuse across the country in the past 100 years.
Here are some key takeaways from the study:
- Denver office space grew by 3.4 million square feet or 50 buildings through adaptive reuse over the past century. The city claims #20 in terms of buildings adaptively reused for office.
- Colorado is the 24th state in terms of office adaptive reuse, with 65 buildings totaling 4.8 million square feet converted to office space.
- Overall, most of the office buildings created through adaptive reuse in the past 100 years were converted from industrial space (61%), followed by retail (19%) and residential (5%).
- 90% of conversions happened in the past 40 years, one-fifth in the 1980s—the period when office adaptive reuse took off—and 53% in the past two decades.
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