What to Know About Updating Office Assets

SAN DIEGO—Updating office product is all the rage in an age where land is scarce and expensive. But before following the crowd and paying to develop creative space, consider whether it pays in the long run, Oliver Fleener, SVP of PM Realty Group, tells GlobeSt.com. We spoke with several experts in office redevelopment about the ever-growing trend of repositioning older product into modern creative space and what to know before embarking on this journey.

First, consider the disruption to tenants in occupied space. “All modifications—from sustainable features to reconfiguring an entire floor plan—can disrupt employee workflow,” Jim Roherty, president of Pacific Building Group, tells GlobeSt.com. “We help clients minimize this condition through detailed pre-planning and working off-hours and weekends. Shift scheduling, thoughtful planning and an organized construction crew allow tenants to continue business with little disruption. Our team efficiently transforms the space, often floor by floor. We also encourage clients to consider pre-construction services, which include a critical focus on early procurement for equipment and materials, allowing clients to save money long-term.”