Skip to Navigation | Skip to Content
|
info This page is no longer updated

Research & Analysis Study of Class B & C Office Space

Montgomery County, 1997

This report examines the future of older Class B and Class C office buildings in Montgomery County, Maryland, a maturing suburban county with about 450 of these buildings. As these buildings age, they require extensive maintenance and improvements to meet new codes and keep up with market expectations. The report examines the market for space in these buildings and the economics of renovation with tenants in place and rehabilitation of vacant buildings. It also looks at the requirements for successful adaptive reuse as residential apartments. These issues are put in the context of boom and bust real estate cycles and the rents required to support renovation. The report concludes that the way to support older office buildings is to support the economies of areas in which they stand. It makes recommendations to support the market for these buildings in a depressed area of the county. An appendix summarizes programs with similar purposes in other jurisdictions nationwide. The report was prepared with the advice of a committee of real estate industry professionals including owners, managers, architects, brokers, bankers, and renovation contractors.

Download Report