By: Douglas A. Bora Jr., managing director of Spinnaker Real Estate Partners LLC and Steven Wise, principal of Steven Wise Associates LLC.
Aging industrial and office structures throughout the U.S. offer unique opportunities for owners and developers to think creatively about adapting and reusing obsolete buildings and properties. Rather than demolishing these structures, many developers are transforming them into places that meet the needs of today’s commercial real estate markets. The Campus on Interstate 95 in Stamford, Conn., a former Clairol headquarters and manufacturing facility, is a case in point.