REDEVELOPMENT OF EXISTING SITES AND BUILDINGS MARK ELLIOT & DAVID KIRK
Redevelopment of Existing
Sites and Buildings
By Mark Elliot & David Kirk
O
wners of office buildings have watched rents spike and values of holdings correspondingly grow in
the last six years. There are signs that the dramatic upward spikes in rent are slowing, and as a
fundamental matter, rents cannot go up forever. With that plateau in rents, owners have begun to
look at other ways to increase the value of their real estate holdings. One way is to make more use of their
asset (densify it); more square footage (if they are merely improving a single building); and more buildings
(which leads to more square footage), if they are improving a project.