Rising construction and land costs are leading public and charter schools, career colleges, and universities to relocate facilities to repurposed existing buildings including former strip malls, warehouses, bank branches, and other non-standard space where there are increasing vacancies. Such moves can provide ideal locations for classrooms and other facilities at less cost than other options, but there are a few potential pitfalls.
Here are five tips to help educators obtain the benefits of repurposed educational space while avoiding the hazards.
Manley is president of Commercial Tenant Real Estate Representation, a nationwide real estate consultancy and advisory firm located in New York. She has worked with a number of schools and colleges to assist them in solving issues and problems related to acquisition of space for their school functions. She can be reached at [email protected].
