Adaptive reuse office conversions will surge to encompass nearly 20M SF this year, a surge of nearly 75% over the total of 12M SF in 2022 and more than double to 8M SF total in 2021.

Last year's office conversions totaled 63 projects, of which 42 have been completed and 21 remain under construction, CBRE said, in its latest Adaptive Space report.

Thus far in 2023, a total of 99 office conversions are in the works, including 85 that are underway and 14 in the planning stages.

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