Anthony Dilweg, founder and CEO of real estate firm Dilweg Cos., learned the importance of having a game plan when he played professional football for the Green Bay Packers.

So now, as the leader of a real estate firm heavily invested in the office market, he is preparing a strategy to position Dilweg Cos. for the future at a time of reduced demand he sees for those properties.

“Office is structurally broken, and demand metrics are still quite wonky,” Dilweg said in an interview with CoStar News. “Hybrid is now woven into the workplace fabric and the impact of this has yet to play out.”

Office owners need to take an active, meaningful approach to get employees back to the workplace, but it has to be an intentional, strategic process that incorporates the right mix of amenities and space as opposed to a blanket mandate with no direction, he said. But he doesn’t expect the results of that shift to come immediately.

As such, Dilweg Cos., of Durham, North Carolina, plans to repurpose some properties by turning dated, vintage office buildings into mixed-use developments and adding residential or retail uses to attract more demand and visitors.

A native of Bethesda, Maryland, Dilweg was a professional athlete and a standout in college, so he's no stranger to comebacks or how to pivot when necessary. At Duke University, the drama and psychology major's initial role with the Blue Devils was as a punter.

Although he had started only two games as a quarterback going in as a fifth-year senior, he flourished in that role in his final college season in 1988. That season Dilweg led the Atlantic Coast Conference in both passing efficiency and total offense while ranking second nationally in passing yards and fourth in touchdown passes. He was named the 1988 ACC Player of the Year.

The Packers selected Dilweg in the third round of the 1989 NFL draft. He played with the Green Bay organization for just two seasons, in 1989 and 1990. Dilweg’s great-grandfather, LaVern Dilweg, was a Pro Bowl tight end and defensive end for the Packers from 1927 to 1934.

The Packers brought Dilweg on to provide depth at the quarterback position, where his strong arm and quick decision-making skills helped him display confidence and promise during his limited opportunities on the field, according to ranking website Ranker.com.

Dilweg is cultivating a different future today for himself and his firm. His real estate company is adapting to recent office market volatility by looking for new growth opportunities and diversifying its portfolio next year and beyond.

Office owners are pivoting away from older office properties, following the lead of employers, Dilweg told CoStar News. Employers want to be in amenity-rich properties that include walkable amenities where their employees can be excited and compelled to come back to work.

“Owners still focusing on office are looking for opportunities to densify the sites to multi-use or significantly repurpose assets — that’s where we see a real opportunity for Dilweg in the coming years,“ he said.

Dilweg is also bullish on single-story creative office space, which the firm began purchasing pre-pandemic. The team has found that tenants favor this building type due to its innate flexibility and ability to provide easy outdoor access.

In partnership with the Carolina Experience Fund, it is also considering converting several floors of office space into short-term rentals. The Carolina Experience offers travelers short-term rental options as a way to be able to work from anywhere.

Plans to repurpose its office properties have been well received by financial partners, too, Dilweg said.

“It seems unlikely that lenders will support owners that don’t want to repurpose,” he said. “Owners with sound plans for assets are more likely to get more support, especially if they are accommodating the new office trends we are seeing and experiencing. Trophy office is leasing very well, and repurposed assets with unique and accretive improvements have the potential to be very valuable.”