Warehouse conversion to flex space, has anyone done this?

[David Hayes]

Curious if anyone has any experience in re-positioning warehouse type building to more of a "flex" space, some office, some warehouse and/or light industrial.  What I'm seeing is that the warehouse buildings in the area of Cincinnati I'm looking at rent for $3.50-$4.50/sqft.  Flex space in the market is more like $6.50-$8/sqft.  I think there is opportunity with the right set of renters and the right buildings to do smaller build outs and potential additional sub-divisions of the warehouse and significantly increase rent, thus increasing overall property value.  I'm sure this has to have been done before - anyone want to share stories or links around the site, I couldn't seem to find anything.