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4min chapter
TIP537: The Surprising Opportunities in Commercial Real Estate w/ Ian Formigle
We Study Billionaires - The Investor’s Podcast Network
Office Conversions Aren't Happening at a More Frequent Rate
CBRE's head of office research reported that there were 125 office conversions underway nationwide last year. Of that 125, about 50% were conversions to life science space. About 30% were Conversion to multifamily and the remaining 20% were either hotels or other uses. We've actually participated in some conversions of office space into all three of those types and also self-storage. I think we see more opportunities for office conversion in the future but it's also fair to say that today in 2023, there's still relatively rare.
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