Warehouse Repurposing
Hi /CRE,

I’d love to get some creative input on a project I’m working on. The building is a ~20,000 sf brick and beam 1-storey warehouse (built in 1912 with recent structural upgrades). It’s nestled into a predominantly residential neighbourhood about 15 minutes outside the downtown core. There are 2 neighbouring industrial/warehouses that are very similar in design/build that are now occupied by a brewery, and a specialty grocer. Does anyone know of any interesting projects have gone on around the world of CRE to reposition warehouse space like this? Wether office or retail related? The zoning is quite liberal with uses.
I think there is some really great potential here that id like to create story on to market it. (I’m a broker)

Thanks!
[{"id": "fnb3fnm", "text": "Interested in buying. Care to DM me details?", "replies": [], "depth": 1}, {"id": "fnb46ga", "text": "Stanley Market in Stapleton CO. Previously some sort of manufacturing for airplanes. Built in close proximity to a large master planned development. This is obviously much larger than your space.\n\n\nhttp://stanleymarketplace.com/", "replies": [{"id": "fnb4yi9", "text": "Very cool, thank you!", "replies": [], "depth": 2}, {"id": "fnbfg86", "text": "Thanks for sharing! This is my submarket and I can see the potential for this being quite popular, after all this settles of course.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fnb5rwj", "text": "Is it near an affluent area? \n\nIf so I know a guy that turned a warehouse like that into a high-end storage for exotic/vintage cars. Many wealthy collectors people run out of garage space and often store their vehicles elsewhere.", "replies": [{"id": "fnbr74p", "text": "Definitely worth considering, thanks!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fnbdqsb", "text": "Food Hall!   [https://sawmillmarket.com/](https://sawmillmarket.com/)", "replies": [{"id": "fnbr8yo", "text": "Love what they did with sawmill, thank you!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fnc4bry", "text": "One of those kids' bounce house/indoor playground.", "replies": [], "depth": 1}, {"id": "fnibit9", "text": "If you asked me 6 months ago, I\u2019d mention interesting adaptive reuse projects I\u2019ve financed like a warehouse turned brewery, cow slaughter house turned multifamily apartments, prohibition bathtub gin joint turned senior living facility. \n\nWe live in different times now. Warehouses are one of the only asset types that will weather this downturn unscathed. I\u2019d stick to keeping it a warehouse and market the niche space to big box retailers.", "replies": [{"id": "fnii6l5", "text": "I completely agree, I specialize in industrial assets and would generally advocate for the same. However this property is quite unique in its geographical position and zoning. Even for last mile distribution it doesn\u2019t make that much sense due to lack of shipping and being in a residential neighborhood. Perhaps it will remain as some sort of storage facility, but the surrounding residents and city don\u2019t seem too keen on that. If there is great potential for more, that\u2019s what I\u2019ll push for!", "replies": [{"id": "fnilcin", "text": "Gotcha!\n\nI\u2019d look into historical tax credit options to help with redevelopment. Typically HTCs not needed by you are sold off to corporations after project completion, so it\u2019s a win-win for all involved. \n\nHave you considered splitting the building into different units? 20K SF is roughly the size of a big box store (TJ Maxx for example).", "replies": [{"id": "fniqtcw", "text": "Thank you! Yes, we are also considering condominiumizing it.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]