Moves by forward-thinking U.S. cities to revitalize their downtown business districts are having a dramatic effect on the commercial real estate market. “Once derelict or largely ignored urban micro-segments will see a renaissance. Parking lots will be transformed to trophy office towers; warehouses into multifamily units; rail depots into retail experiences and dim streets in to lively blocks," according to a newly published report from Jones Lang LaSalle.

The cities leading this redevelopment trend include the usual suspects, with the work-centered or run-down districts in the country's top economic hubs getting much of the attention: Los Angeles' Downtown, New York's West Side and San Francisco's once seedy Middle Market Street area.
San Francisco Renaissance
"[Middle Market Street] used to be the number-one heroin dealing location in the city. It was a really bad part of town," said Rob Stiles, managing director at RobertDouglas. The worst part was Market....

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