Office conversions: a growing trend impacting asset managers
- Arthur d'Hauteville
- Jun 10
- 1 min read
CBRE reports a reduction in U.S. office inventory exceeding new office supply due to building conversions and demolitions, with nearly 13 million sq. ft converted (75% to residential) and 10 million sq. ft demolished across 58 US cities.
High vacancy rates and growing market experience make conversions more feasible for asset managers, provided building characteristics and local demand are favorable.
This trend is impacting asset managers in many ways: new partnerships to assess conversion economics, longer business plans affecting fee structures and performance assessments.
The circa 300 projects listed by CBRE remain a tiny share of the US office inventory but a valuable option to unlock value in a still difficult office sector - probably more to come...
CBRE report :
US map of ongoing projects
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