Office space converted to condos to meet demand for urban housing

A combined 18.1 million square feet of office space in downtown Manhattan and Los Angeles has been converted to condos and apartments in the past decade, and the trend from office to multifamily continues to “kick up” around the nation in cities like Philadelphia and Baltimore, says John Sikaitis of Jones Lang LaSalle.

Sikaitis tells Investor’s Business Daily that one factor driving demand is millennials flocking to urban environments. Source: