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CREATIVE OFFICE PROJECTSADAPTIVE REUSE GENERATES STAGGERING RETURNS FOR INVESTORS

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WHAT IS CREATIVE OFFICE?n “Creative office” is a subset of value-add adaptive reuse

n Typically encompasses conversion of a property from non-office (e.g., industrial or retail) to office use

n An increasingly popular value-add strategy

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CREATIVE OFFICE DRIVERS

n Increasingly millennial-focused

n Want differentiated office space for branding and recruiting

#1 TAMI (tech, advertising, media and information) companies are growing

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CREATIVE OFFICE DRIVERS

n Absorption previously driven by suburban growth

n Functionally obsolete industrial buildings targeted for urban locations

#2 Office absorption is moving to urban, live/work/play environments

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LOS ANGELESPlaya Jefferson

The Reserve

The Ford Building

Columbia Square

The Press

NEW YORK

SAN FRANCISCO BAY AREA

HOUSTON

NEW JERSEY

CHICAGO

Imperial Market

Market Square

PORTLANDMeier & Frank Building

SEATTLEMaritime Building

DENVERINDUSTRY RiNo Station

888 Brannan

Uptown Station

1K Fulton

Hillshire Brands Headquarters

Bell Works

ATLANTA

BOSTONOne Lovejoy Wharf

New GE Headquarters

Innovation & Design building (IDB)

DALLASThe Brewery Building

Factory Six03

SAN ANTONIOPearl

AUSTINSeaholm Power Plant

Saint Elmo Market District

PHOENIXThe HUB

77 Flushing Ave.

Watchtower Building

Twitter NYC

Falchi Building

Atlanta Dairies

Ponce City Market

COMPLETE UNDER DEVELOPMENT

EXITS ($50M+) & PROJECTS UNDER DEVELOPMENT (100,000+ SF)

NYC

NJ

LA

ATL

BOS

CHI

HOU

PDX

DEN

SA

DAL

AUS

SF

SE

PHX

NOTEWORTHY CREATIVE OFFICE PROJECTS

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SEAHOLM POWER PLANTAUSTIN

Exit sale:

$124M

transwestern.com | @TranswesternExit sale:

ONE LOVEJOY WHARFBOSTON

$150M

Original sale:

$22.5M

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Original sale:

$12MExit sale:

1K FULTONCHICAGO

$303.6M

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HILLSHIRE BRANDSCHICAGO

Exit sale:

$97.5M

$10MOriginal sale:

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Exit sale:

PLAYA JEFFERSONLOS ANGELES

$33M

$165M

Original sale:

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Original sale:

$43.9M

THE RESERVELOS ANGELES

$316MExit sale:

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Original sale:

$81.2M

FALCHI BUILDINGLONG ISLAND CITY

$255MExit sale:

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Original sale:

$75.8M TWITTER NYCNEW YORK

$335MExit sale:

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Original sale:

$120MExit sale:

MARKET SQUARESAN FRANCISCO

$917.4M

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Original sale:

$36.5M

888 BRANNANSAN FRANCISCO

$185.9MExit sale:

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Learn about creative office projects under development nationwide in this report.