Working from Home in a Former Office: Office Space to Residential Conversion
Joshua S. Cole, attorney in Pullman & Comley's Real Estate practice, authored an article for the New England Real Estate Journal on commercial property owners' increased interest in converting office buildings into residential or mixed-use spaces. "While employees continue to embrace the benefits of remote work, commercial property owners face the challenge of continued vacancy rates. As leases expire and businesses reduce space to account for full or partial remote work, commercial property owners need to reassess their holdings," says Josh.
While property type conversion may make economic sense in some instances, it's not the case for every building. Josh outlines the main factors that should be taken into consideration, including location, zoning, building design and more.
To read the full article, please visit the NEREJ website.