The Corner Office V1 2024 FINAL - Flipbook - Page 10
ADAPTIVE REUSE
FROM DATED TO DESIRABLE
Turning to Adaptive Reuse to Accommodate New Of昀椀ce Users
In the face of Downtown Charleston’s space constraints, a creative solution has presented itself:
adaptive reuse for of昀椀ce. As new construction opportunities dwindle in the historic district,
developers and investors should be taking a look at renovation and repurposing of existing
structures to meet the demand for modern of昀椀ce spaces. This concept not only preserves the
city’s architectural heritage but also presents a compelling economic case.
Our analysis of recent sales data reveals a striking disparity: renovated of昀椀ce properties in
Downtown Charleston command an average sale price of $672.78 PSF, nearly double the
$353.34 PSF fetched by non-renovated properties. This signi昀椀cant price premium underscores
the market’s appetite for updated, character-rich spaces that blend historical charm with
contemporary functionality. As we look deeper into this trend, it becomes clear that adaptive
reuse isn’t just a tourniquet – it can become a strategic approach that’s reshaping Downtown
Charleston’s of昀椀ce landscape.
PAGE 10 | THE CORNER OFFICE
