Updated over 8 years ago on .
Flex to Office Conversion
Does anyone have any good examples of converting a flex space (15% to 95% office with the remainder as industrial/warehouse) into office space? Assuming one would have to convert roll up doors into large windows, convert loading docks to parking, likely blow out office ceiling to match industrial clear height, among other modernizations.
If so, where was your project, what renovations were made and how much did they cost, and what was the return on cost goal/target percent (if the goal was a different metric, then what was that) and why (RoC assumed to be defined as achieved rent increase/renovation cost)?
More helpful details would include the rental rates before and after the renovation, and possibly purchase and exit prices in order to find a total profit number (sale price-renovation cost-purchase price). The timeframe of the project would also be helpful, or any other context you could give.