With a potential commercial real estate market crash looming over the industry, the past year has felt long, and 2024 is possibly just as foreboding.
But amid the uncertainty, resourceful players found alternative uses for idle space. Where did these out-of-the-box uses like entertainment, pickleball, and urban laboratories come from?
By looking at some creative space conversions on LoopNet’s radar this past year, one could either follow these trends’ potential future or use them as inspiration for new inventive possibilities.
Pickleball
FullScope Sports
Pickleball was widely documented as the U.S.’ fastest-growing sport in 2023, and businesses ranging from big “sportstainment” chains backed by deep pockets to mom-and-pop entrepreneurs helped provide spaces for it.
Immersive Art
Town & Country Magazine
In that same spirit, several concepts captured demand in big ways last year, such as the Illumination venture, which specializes in immersive, multi-sensory, and interactive art shows that transport customers to faraway locales and fantasy environments within their own branded venues.
Speakeasy
Virtuoso
Here’s another example of a use that brings people together. With careful attention to detail, the space can be designed as a retro-style bar or lounge, featuring vintage furniture, dim lighting, and the soothing sounds of jazz music.
Life Sciences
Crain's New York Business
Demand for spaces that suit the life sciences industry is on the rise, and rather than building them from scratch, offices were widely seen as potentials for adaptive reuse.
Eatertainment
SevenRooms
One cross-section of a Venn diagram those pickleball facilities fit into between restaurants and entertainment is “eatertainment,” which combines elements of sports or other social activities with food and beverage.
From the rise of pickleball facilities to immersive art shows and the resurgence of retro-style speakeasies, businesses are adapting to the changing landscape. The increasing demand for life sciences spaces and the concept of "eatertainment" further highlight the industry's versatility. These unconventional uses not only address current challenges but also inspire new possibilities for repurposing commercial spaces in the evolving market.
Source: Team, LoopNet. “Have Empty Commercial Space in 2024? Consider 10 of 2023’s Most Notable Alternative Uses.” LoopNet, LoopNet.com, 2 Jan. 2024,
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