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Old warehouses are excellent candidates for adaptive reuse, especially those that are well located and eligible for historic tax credits.
The industrial market continues its recovery nationwide, driven by tenant demand for more space to accommodate growth and the need for more efficient locations and buildings to reduce costs. According to the most recent NAIOP Industrial Space Demand Forecast, “the U.S. industrial market is poised for significant growth, with annual net absorption forecast to reach 150 million and 175 million square feet in 2013 and 2014 respectively.”
Despite roadblocks over ten years, including community opposition, environmental concerns, and the economy, Westfield delivers a unique retail complex offering a resort-like experience.
Against the backdrop of the Great Recession, Hines creates a $1 billion pedestrian-friendly, mixed-use complex on 10 acres in downtown Washington’s commercial, cultural, arts, and entertainment epicenter.