Brian Johnson: Adaptive Reuse in Commercial Real Estate | Business

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Adaptive reuse is not a new concept in commercial real estate. It is the practice of taking an existing building and repurposing it for a new use. This means renovating an existing building rather than demolishing it and building something new.

In the past, we have seen single property assets in urban areas utilize this approach of neighborhood renewal. There are rules we have to abide by in order to consider something as an adaptive reuse.

The first is that you reuse all or a substantial portion of an existing structure. Tearing down a building and putting up a new one is not an adaptive reuse.

Second, the existing structure has to have had some kind of functional or economic obsolescence. We see this…

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