Adaptive Reuse: Turning Blight into Bright

3Q18 Commercial Real Estate Insights Report

Welcome to the next installment in the Commercial Real Estate Insights series. These reports, created in partnership with the Alabama Center for Real Estate, represent CCIM Institute’s commitment to providing thought leadership at the highest level to the industry during a time of historic change. The first report, which was released earlier this year, was titled “Amazon HQ2: A Reset Button for Site Selection.” Driven by the thorough analysis and unique perspective of CCIM Institute Chief Economist K.C. Conway, that report garnered widespread media attention and provided commercial real estate professionals with insights into what corporate RFPs will look like in the future. The response from both the press and CCIMs was overwhelmingly positive. If you haven’t read it, I urge you to visit www.ccim.com/insights.

You won’t be disappointed. In this report, K.C. tackles adaptive reuse — an increasingly common but misunderstood and under-analyzed property segment. As I’ve had the privilege of traveling around the world on behalf of CCIM, I’ve witnessed this as a global phenomenon; from turn-of-the-century warehouses to castles to train stations, developers and investors have untapped enormous value from obsolete building stock. This report represents the first step in the Alabama Center for Real Estate’s effort to redefine and quantify adaptive reuse, elevating it as a distinct product category within commercial real estate. We expect their efforts to result in increased adaptive reuse investment and development activity, and ultimately a stronger, more resilient commercial real estate industry.

The Commercial Real Estate Insights reports are designed to start a conversation that will ultimately help CCIMs and their clients adapt in an evolving industry. If you’re not a CCIM, I encourage you to learn more about the CCIM designation program and our other education offerings at www.ccim.com. With the support of our members and partners like the Alabama Center for Real Estate, we look forward to bringing you valuable insights for many years to come.

Download the full report