By Gary Cohn, RA, Director of Institutional A&E Services, published on April 30, 2024 in GlobeSt.com
Given retail market conditions today, it’s no wonder that adaptive reuse is a hot topic. With retail inventory exceeding demand in many markets, converting retail assets to alternate uses is a viable strategy. Repurposing an existing asset is generally faster, more cost-effective, and more sustainable than new development. However, not all buildings are readily adaptable. A properly scoped and executed property condition assessment (PCA) can help identify opportunities and obstacles related to repurposing a retail property and provide a rough understanding of related costs.
For more on Adaptive Reuse, read the full article on GlobeSt.com.
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