When it comes to Office Space Conversions, Innovation Shows Few Limits 

CCIM Designees today are at the forefront of representing and supporting organizations in transforming properties from office spaces to something completely innovative and different.  

According to CBRE, as of Q3 2024, 71 million-sf (1.7% of U.S. office inventory) was planned for or already undergoing conversion.1 Additionally, between 2021 and 2024, the number of apartments scheduled for conversion from old office spaces increased from 12,100 to 55,300.2  

1. Esri’s Business Analyst & ArcGIS Online 

Who Uses It? 

• Investment sales professionals 

• Economic development professionals 

• Site selection specialists  

How It’s Used 

Evelyn Ward, CCIM, is a senior vice president with Transwestern responsible for marketing and leasing efforts in the Houston office. She has completed over 3.5 million SF of lease deals and more than $150 million in land transactions during her career. Receiving her CCIM Designation in 2011, Ward became a Senior Instructor for The CCIM Institute in 2022. She currently teaches CI 103 - User Decision Analysis.

Collaborating for Excellence: How Attorneys and CCIMs Find Success in Lease Agreements

Helping Business Owners Reconfigure Office Space

The trend towards reconfiguring office spaces reflects significant shifts in the commercial real estate market, driven largely by the rise of hybrid work models and the evolving needs of businesses and employees. High vacancy rates and declining demand for traditional office spaces have led to innovative approaches in utilizing these properties.

These shifts create opportunities for CCIMs to assist small businesses in reconfiguring their current spaces.

The C5 + CCIM Global Summit is this year’s premier commercial real estate event, where the industry's best and brightest will converge under one roof. Join us Sept. 17-19 in Hollywood, Florida, for an unparalleled opportunity to negotiate deals, build vital relationships, and engage with the latest trends shaping the commercial real estate landscape.

 The COVID-19 pandemic continues to disrupt public health and economic activities across the globe. While the full effects of the virus remain to be seen, commercial real estate professionals need to be prepared for what could be a challenging time.

Relationships between tenants and landlords will be disrupted as millions of people shelter in place, thousands of businesses close their doors, and the U.S. economy faces its biggest challenge since the 2007-2009 Great Recession.