John Mays, a partner in Gould & Ratner's Real Estate Practice, talked to Law360.com about the value of reusing large empty suburban office campuses.
Cost can often be the most significant factor in reuse, especially for large campuses used by only one company, such as McDonald's. The restaurant chain is moving out of its Oak Brook headquarters into downtown Chicago.
John noted, “There’s a cost benefit [analysis] that the developer has to look at, the cost of redoing this space.” Furthermore, the downsides to repurposing older spaces “could well outweigh the benefits,” he said.
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