Conversions are only possible one way and tend to be permanent. Industrial -> Commercial -> Residential. Industrial equipment is heavy and needs much more rei

Conversions are only possible one way and tend to be permanent. Industrial -> Commercial -> Residential. Industrial equipment is heavy and needs much more reinforcement of the floor plates and columns. You can convert an old factory to lofts but not the other way around (lofts to factory is basically rebuilding the building inside the existing shell... much cheaper to knock it down and start over). Commercial has vastly different plumbing, electrical, and ventilation requirements. Residential wants more natural light so you tend not to get the kind of profitable open floor plates you need in commercial. And generally commercial is over-supplied with electric but vastly under-supplied with water/sewer for residential needs. Once a commercial building is converted to apartments it doesn't go back - with the exception of very small commercial like a doctor's office taking over a house or similar.