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Once a Strong Bet, Renovating Offices Now Looks Riskier

Benefits of Overhauled Offices Often Fleeting As Tenant Space Needs Change

Atlanta's iconic King and Queen buildings at Concourse Parkway in the Central Perimeter area were renovated since 2020, helping to secure a new headquarters lease from Newell Brands. (CoStar)
Atlanta's iconic King and Queen buildings at Concourse Parkway in the Central Perimeter area were renovated since 2020, helping to secure a new headquarters lease from Newell Brands. (CoStar)

Renovating older office buildings is a time-honored strategy for maintaining occupancy. Despite this track record, however, recent history suggests that a future payoff for this approach is far from certain.

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