Kohr Royer Griffith Inc.’s Post

Suburban office buildings in New Jersey often face significant challenges when it comes to converting into residential spaces. I’ve spoken With several developers who have attempted these projects, but many found it didn’t make financial sense. One of the biggest hurdles is the design and layout. Large, open floor plans and limited natural light aren’t conducive to residential use, and reconfiguring these buildings can be costly. Beyond that, many suburban office locations lack the infrastructure that makes residential spaces attractive—things like walkability, schools, or nearby retail. From my experience working with and selling office, multifamily, and development projects, these challenges are recurring in suburban New Jersey. Developers need the right combination of location, infrastructure, and demand to make these conversions feasible, and many suburban office buildings just don’t fit the bill right now. #OfficeConversions #RealEstateChallenges #CRETrends #MultifamilyRedevelopment #NJRealEstate #BuilderToBroker

Converting unused office buildings into apartments has turned out to be more difficult and costly than many developers originally thought. But new research presents an innovative solution: converting unused office buildings into micro-apartments with shared kitchens, bathrooms, and living spaces. This dorm-style model can cut construction costs by 25-35% compared to traditional office conversions, making rent more affordable for people earning below the median income. Read more about how “adult dorms” could reshape urban living: bit.ly/40yCOPi #WendoverHousingPartners #housing #affordablehousing #dorms #housingcrisis

Office and residential buildings have vastly different needs for curb space and parking, but they’re often afterthoughts when converting offices to multifamily units. Learn how residential amenities, urban transportation needs, and a third-party traffic analysis can affect a property’s final design. 📷: Golub & Company and SCB #KimleyHorn #UrbanDesign #Parking

Office buildings are one of the most popular types of commercial real estate investment and can range from skyscrapers in urban centers to suburban business parks. Investing in office buildings can offer you steady income by leasing to various businesses, from small firms to large corporations. These properties are categorized into three classes: Class A: Top-tier buildings that are often newly constructed or extensively renovated, featuring prime locations, high-end finishes, and modern amenities.  Class B: These buildings are a step down, typically older but well-maintained, offering functional space at a more affordable price.  Class C: Older buildings, often needing renovation, and located in less desirable areas, representing higher risk but potential for significant value-add opportunities through improvements. Source: https://lnkd.in/eD_67ej5

Office and residential buildings have vastly different needs for curb space and parking, but they’re often afterthoughts when converting offices to multifamily units. Learn how residential amenities, urban transportation needs, and a third-party traffic analysis can affect a property’s final design. #KimleyHorn #UrbanDesign #Parking

Innovative Design and Smart Solutions in Updated Office Buildings. One detail that stood out to me recently was the innovative design of an updated office building I visited “Harborside 1”. While attending the The Jersey City Summit by roundtable&advisory at the 601W Companies building, I noticed an all-in-one wash bar by Bradley Australia which includes soap, wash, and dry functions. This smart solution prevents water from being dragged across the floor, enhancing both safety and efficiency. This experience got me thinking about the importance of thoughtful design in commercial properties. Whether it’s an innovative wash bar or a well-planned layout, these details can significantly impact the user experience and operational efficiency. Constantly updating office buildings with smart and safe solutions is crucial for maintaining high standards and attracting tenants. Having a background in construction gives me a unique perspective as a broker. I understand buildings from the inside out, which allows me to see beyond the surface and appreciate the intricacies of design and functionality. This knowledge not only helps me identify the best properties for my clients but also adds value in discussions about property improvements and potential. Stay tuned for more insights on building and construction. If you’re interested in multifamily, office, and development sites, let’s connect! The Eider Group at Marcus & Millichap #RealEstate #InnovativeDesign #Construction #CRE #SmartSolutions #BuildingInsights #EiderExpertise #BuilderBrokerInsights #ConstructionToCRE #FromBlueprintsToBuildings #DetailedCREInsights #BuildingToBrokerage #buildertobroker

Office and residential buildings have vastly different needs for curb space and parking, but they’re often afterthoughts when converting offices to multifamily units. Learn how residential amenities, urban transportation needs, and a third-party traffic analysis can affect a property’s final design. 📷: Golub & Company and SCB #KimleyHorn #UrbanDesign #Parking

What do you think of this virtually staged floorplan? We think it helps prospective tenants to envision possible use and what the space could look like with different furniture. Our next post will provide a link to the video. Let us know your thoughts! Commercial Lease: Minutes to Rt. 50 in Easton, Maryland. This commercial lease provides a front entry with reception/seating area, three offices, a kitchen and break room, and two restrooms on the office side. The workshop provides a side entry/exit door, a shop side restroom, indoor shop space of approximately 38 feet by 40 feet with one 12 foot garage door and two 14 foot garage doors, the overall indoor height of the workshop/garage is approximately 18 feet. The footprint for this lease offering is approximately three acres with a large gravel staging area. Previously used for a local landscaping business, this footprint allows space for parking work vehicles, machine equipment and ample space for materials. The pole building is approximately 3,200 square feet. Measurements are believed to be accurate but should not be relied upon without verification. Foyer/Front Entry 9'2" x 19'5" Reception area 11'7" x 14'5" Office A 17'0" x 14'5" Office B (opt. Conference Room) 16'4" x 17'9" Office C 17'0" x 10'8" 2 Office Restrooms Kitchen/Break Room 8'10" x 15'7" Work Shop 38'2" x 40'0" 1 Shop Restroom 3 Garage Doors Side entry/exit door from workshop Offered for $3,650/mo Please contact Coard Benson at Benson and Mangold Real Estate in Easton, Maryland, to schedule a showing, or for more information. c: (410 ) 310-4909 o: (410) 770-9255 #bam #bensonandmangold #buywiththebest #coardbenson #easternshore #esmd #eastonmd #easternshoremd #blackdogalley #listwiththeleaders #mdrealestate #marylandrealestate #talbotcountymd

Converting office spaces to dorm-style co-living residences offers a potential solution to the growing demand for affordable housing amid the decline of office space due to remote work. According to a report by Pew and Gensler, this approach could reduce conversion costs by 25% to 35% compared to traditional apartments. These co-living spaces would include private sleeping areas along with shared kitchens, bathrooms, and living spaces, maximizing efficiency and affordability. However, there are challenges, such as restrictive zoning laws and complex office layouts that complicate legal apartment conversions. Co-living models could address these issues by retaining existing plumbing layouts and allowing for more units within the current structures. This model is particularly appealing to groups like students, young professionals, and retirees. Despite the benefits, successful conversions may still require financial support and regulatory changes to accommodate co-living arrangements. While not a comprehensive solution to the housing crisis, co-living could significantly expand low-cost housing options in urban areas. Source: (smartcitiesdive.com) . . . #premiumpropertytrust #birminghamalabama #bhamal #realestateinvesting #realestate #architecture #pptreit #realestateinvestment #realestateinvestmenttrust #buildinggenerationalwealth #mixedused #newurbanism #generationalwealth #investing #reit #ppt #verticalintegration #premiumbydesign

There is over 550M square feet of office space in New York City. (That's more office space than Chicago, Dallas & Boston combined.) There are a lot of buildings that continue to struggle, but the top end of the NYC office market is on fire. Net Effective Rents in Trophy Office Assets have increased from $76/SF (2020 lows) to $113/ SF (Q1 2024). Interest Rates have paralyzed the new construction pipeline. So if you are a well capitalized owner, with a solid legacy asset, in a premium location, the strategy is simple: "If You Improve it, They Will Come." -someone smart Welcome to 717 Fifth Avenue, a timeless Midtown asset that just went through a thoughtful redesign by renowned architecture firm, Pei Cobb Freed & Partners. ⚫️ Full lobby renovation. ⚫️ A first-class 8,000 SF amenity center, which will include a tenant only conference center, lounge/collaborative areas, grab and go food service and locker rooms with showers. ⚫️ Brand new low profile convectors throughout new space increasing the window by ~18 inches. ⚫️ Renovated elevator interiors and new destination dispatch system. ⚫️ Full Floors range from 8,800 - 32,000 SF. 👇Let me know in the comments what you think. #office #nyc #centralpark #timeless #views #717fifth #plazadistrict #renovation #modernization #hedgefund #privateequity #finance