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https://www.researchgate.net/publication/262674986_Ways_to_minimize_the_impact_of_Obsolescence_and_to_Prolong_your_Office_Building's_Economic_Life_A_Decision-tree_Approach#:~:text=Office%20buildings%20are%20typically%20designed%20function%20they%20are,subject%20to%20obsolescence.%20Even%20new%20buildings%2C%20under%20certain
https://www.bloomberg.com/news/articles/2022-03-14/u-s-office-buildings-face-a-1-1-trillion-obsolescence-problem
U.S. Office Buildings Face a $1.1 Trillion Obsolescence Problem - Bloomberg Business U.S. Office Buildings Face $1.1 Trillion Obsolescence Hurdle As tenants favor new towers, 30% of properties are...
https://www.ibj.com/articles/u-s-office-buildings-face-1-1-trillion-obsolescence-problem
Those properties are among the 30% of U.S. office buildings, worth an estimated $1.1 trillion, that are at high risk of becoming obsolete as tenants’ tastes change in the hybrid-work era, according...
https://news.bloomberglaw.com/daily-labor-report/u-s-office-buildings-face-a-1-1-trillion-obsolescence-problem
U.S. Offices Face $1.1 Trillion Obsolescence Hurdle (Correct) March 14, 2022, 1:43 PM As tenants favor new towers, 30% of properties are at risk Steep value declines are pushing some landlords to walk away One of the tallest office towers in St. Louis lost 96% of its appraised value. Denver’s former World Trade Center complex faces foreclosure.
https://www.nmrk.com/insights/real-insights/obsolete-office-properties-are-being-successfully-converted-into-multihousing
The National Trend: Accelerating Office Obsolescence Creates Conversion Opportunities. As the national office market evolves, a trend proliferating in cities nationwide has been the conversion of office buildings to multihousing use. In a recent study, Newmark found that approximately 8% of the current U.S. office inventory is obsolete. With so much older, less-amenitized office …
https://fnrpusa.com/blog/types-obsolescence-real-estate/
3 Types of Obsolescence in Commercial Real Estate. “Obsolescence” is the term used to refer to something that is either out of date, or no longer in line with market requirements. As it relates to a commercial real estate investment, there are three types of obsolescence: functional, economic, and physical. Obsolescence in real estate can be categorized as curable …
https://www.linkedin.com/pulse/staying-relevant-prolonging-obsolescence-office-isilay
Technological obsolescence occurs when the building is inferior to alternatives. Social: Community values and fashion can lead to the need for …
https://markets.businessinsider.com/news/stocks/alarming-obsolescence-will-reprice-u-s-office-properties-due-to-esg-tenant-health-demands-1031267071
Mar. 9, 2022, 11:00 AM LOS ANGELES, March 9, 2022 /PRNewswire/ -- A new economic analysis of the state of U.S. office buildings reveals that as much as 70% of the total inventory faces an alarming...
https://www.citycenterallentown.com/company/news/cre-opinion-piece-the-risks-functional-obsolescence-office-space
Office buildings with inflexible floorplates indicate functional obsolescence, but so do inefficient HVAC systems, slow and undependable elevators, outdated installed technology, not enough parking and wasted space. The core problem with functionally obsolete space is you need more square footage to deliver only a “passable” work environment, therefore you get neither …
https://www.bostonanc.com/post/appraising-office-buildings-with-densification-obsolescence
October 18. 2019 - Published in the New England Real Estate Journal As employers continue to squeeze more workers into less office space, appraisers need to take into consideration the various forms of obsolescence created by this new workplace densification. The average amount of square feet occupied by one office worker was 250 for several years. As of 2018, the …
https://www.nmrk.com/insights/thought-leadership/suburban-office-obsolescence
Obsolescence of office space is a natural process, underway since modern office buildings were introduced in the 19th century. However, this process has accelerated in the 21st century due to rapid changes in the way tenants use office space, in part brought about by technology and changes in the organizational structure of the office environment, and accelerated further by …
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