More office space will be removed from the U.S. market this year than added to it for the first time since at least 2018, which indicates the market is stabilizing, according to CBRE, Dallas.
Tag: Office Conversions
RentCafe: Record Office-to-Apartment Unit Conversions Projected
RentCafe, Santa Barbara, Calif., found a record 70,700 apartments are set to be converted from office space.
CBRE: Strong Office Conversion Pipeline Will Boost Downtowns
CBRE, Dallas, said office conversions have had a great 2024, with 73 completed and another 30 scheduled for delivery by year-end–the most since the firm began tracking conversion projects eight years ago.
KBRA: Older Office Buildings Struggling
KBRA, New York, said in the current office environment, older buildings are seeing particular challenges.
CBRE Finds Office Conversions More Than Doubling
CBRE, Dallas, found nearly 100 office-conversion projects are slated to be completed in major U.S. cities this year. That’s more than double the average of 41 per year from 2016 to 2022.