After a high-performing first half of 2022, recent weeks have felt arduous and lethargic. Declining transaction volume coupled with yo-yoing rates have left the market unstable, and deals are suffering from the fallout. Gone are the days of rate-locking a deal on the same terms you entered with, and once the transactions that do make it to the closing table are finalized, it feels like the pickings (as far as assets go) are rather slim.
Enter adaptive reuse.
Adaptive reuse allows creative investors to pivot alongside the changing market. It’s becoming more prevalent as the inventory of choice properties and vacant sites dwindles. By targeting underperforming or misaligned assets in dense urban markets, savvy developers are not only making financially advantageous decisions; they’re often providing a much-needed product to the surrounding community (and cashing in on any tax incentives that may come with it). Adaptive reuse expands site selection and usually results in less competition for deals. It can also offer hearty proceeds at completion.
October 04, 2024
Partner ESI is pleased to announce the expansion of its Environmental Solutions (ES) Group with the addition of Steve McKnight, P.G., M.S., environmental consultant, joining Partner as Regional Director for the Northwest ES team.
October 01, 2024
Partner Engineering and Science, Inc. (Partner) is pleased to announce the appointment of Grace Jones as National Client Manager. Based in the San Diego office, Jones will work closely with Jenny Redlin to enhance client relationships and drive business growth.
September 27, 2024
In commercial real estate transactions, particularly convenience stores (C-stores) with gas stations, conducting the Phase I Environmental Site Assessment (ESA) is traditionally considered to be the buyer's responsibility. However, sellers can also benefit significantly from conducting a Phase I ESA before listing their property for sale.
