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July 19

Commercial Real Estate and Technology's Impact on Developments of the Future

The status quo of the commercial real estate world has historically been dependent upon property location. Companies looking to lease new office spaces focused on being at the center of booming business districts. But with technology constantly advancing, focus has shifted to providing the level of connectivity tenants need to both live and work.

That’s why Bisnow’s CRE & UrbanTech Summit, hosted in Chicago last week, came at a crucial time. The event brought together professionals in the industry to discuss the future impact of technology on our professional and personal lives. As the adoption of IoT and mobile applications begins to take a front seat in commercial real estate development, wireless connectivity serves as its foundation.

With a plethora of vendors and applications servicing tenants and property managers alike, the ability to integrate and package every facet of building operations has become muddled. Bringing together these services to increase satisfaction and engagement amongst these two groups is a top priority within the industry. However, it’s impossible to fully utilize these services without adequate in-building connectivity. 

Additionally, by turning each square foot of an office building into a distribution channel to provide more advantages and usable spaces to tenants, CRE groups are able to increase the ROI for both buyers and sellers. Technology is a significant investment that tenants are willing to spend more on to ensure the building they call home is ready to support their future connectivity demands.

Traditional processes are also having a major impact on the way we incorporate new IoT technology within facilities. In order to fully connect and extract the utility out of these devices, the process in which building owners build network infrastructures must take into account current and future support needs. Sensory equipment to support automated building systems requires substantial bandwidth and mobility. In fact, many fellow panelists at the Summit noted that this is a pain point for traditional connectivity providers to address, and why the solutions that Zinwave delivers are coming at a critical time.

In today’s real estate world, the building process goes beyond four walls and a roof. CRE and technology are inevitably going to work hand in hand, even more so than they do now. By installing a future-ready wireless infrastructure, building owners increase their value to tenants.

The CRE and technology industries are inevitably intertwined – whether your building will be ahead of the curve depends on how much you embrace the needs for tomorrow, today.

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