The term "adaptive reuse" in real estate typically recalls repurposing old commercial buildings, but the focus is shifting towards underused assets in higher learning institutions. With the rise of online learning, colleges face challenges in managing facilities built for traditional in-person classes. Larry Gautier, Senior Vice President of NAI Miami | Fort Lauderdale, discusses how NAI is addressing this need by helping schools develop strategies, whether it's leasing to commercial users, forming joint ventures, or entering long-term leases with developers. The emphasis is on revenue generation, enhancing the student experience, and community engagement.
Traditionally focused on conventional real estate transactions, NAI has adapted its approach to meet the evolving needs of higher learning institutions. The shift to remote learning has left colleges with surplus facilities, prompting NAI to step in and help create strategies for these schools. Larry Gautier emphasizes the importance of addressing key factors such as revenue, student experience, and community engagement. The approach involves exploring options like Aerospace or engineering companies for educational programs or leasing to commercial users, forming joint ventures, or entering long-term leases with developers. NAI's involvement with Broward College and the successful adaptation of its surplus facilities showcase the practical application of these strategies.
- Changing Landscape: The rise of online learning has left many higher learning institutions with underused or vacant assets.
- NAI's Adaptation: NAI, traditionally focused on conventional real estate, now addresses the unique challenges faced by colleges and universities.
- Strategic Solutions: NAI helps schools create strategies, considering factors like revenue, student experience, and community engagement.
- Diversification: Options include leasing to commercial users, forming joint ventures with companies for educational programs, and entering long-term leases with developers.
- Broward College Success: NAI's involvement with Broward College resulted in a successful adaptation of surplus facilities, generating revenue through leasing to a soccer academy and pickleball operator.
- Revenue Generation: The focus is on helping schools generate revenue, adapt to changing circumstances, and enhance the overall student experience.
- Community Engagement: NAI considers how properties contribute to the community, emphasizing the importance of engaging with the local population.
- Case Studies: Examples like Broward College and Notre Dame of Maryland University highlight the practical application of adaptive reuse strategies.
- Market Dynamics: While some schools seek to reduce or reuse properties, others, especially community colleges, are looking to expand and lease additional space off the main campus.
- Opportunities in Softening Markets: Softening office space markets provide opportunities for community colleges to secure additional space for growing enrollment.
This shift in focus towards adaptive reuse in higher education real estate reflects the dynamic nature of the industry, where strategic solutions are essential for navigating challenges and seizing opportunities.
2023 Market Predictions in Commercial Real Estate
Real Estate Articles / Dec 28, 2022
2023 commercial real estate predictions are here. Find out which is the best investment opportunities are best for you. Make money with commercial real estate.
Shopper & Consumer Trends Are Causing This Movement In Retail Real Estate
Real Estate Articles / Jun 19, 2023
The post-pandemic era brought several changes to the real estate market, specifically retail real estate and retail investment. Market trends for retail investment are on the rise. This is the right time to invest in real estate.
This Week's State Of The Economy - What Is Ahead? - 09 February 2024
Real Estate Articles / Feb 14, 2024
The ISM services index shot higher into expansion territory during January, which is the latest piece of evidence that economic growth is still firmly in positive territory.
How is crypto and blockchain changing real estate business and money making?
Real Estate Articles / Oct 14, 2022
Cryptocurrency and blockchain technology is changing the real estate business in many ways. Real estate investing has started shifting to a digital and virtual space slowly.
Falling Home Prices? Here's All You Need To Know!
Real Estate Articles / Aug 08, 2022
Here’s how you can take advantage of rising interest rates. Advantages of investing during high interest rates are listed below. Invest in real estate today.
Why Grocery-Anchored Real Estate Does Better!
Real Estate Articles / Feb 22, 2023
Grocery-anchored shopping centers are on the rise in the retail sector. They are the best investment in commercial real estate. It is low risk and long term.
What You Need To Know About Closing
Real Estate Articles / May 11, 2022
Whether you are buying property or selling property, closing is a crucial part that will make or break your deal. We have listed major pointers that will help you deal with your next closing much better.
Navigating the Future of Real Estate: Trends in Houston and Beyond
Real Estate Articles / Apr 01, 2024
Exploring Real Estate Trends in Houston: Embracing Online Innovations and Smart Home Features
Tesla moves to Texas - Impact on real estate and economy
Real Estate Articles / Jan 27, 2022
2021 was a big year for real estate in many ways, but the biggest news of the year came towards the end of it when billionaire magnate, Elon Musk announced his move from California to Texas.
Everything you need to know about capital gains tax and real estate investment
Real Estate Articles / Apr 01, 2022
Capital gains tax is levied on the profits made when you sell property or sell investments owned by you. Here’s how you can be exempt from taxes along with the top tax tips for investors and property owners.
