Technology plays a big part in the way we identify the best potential locations in commercial real estate. Here are 4 ways technology can help with your commercial site selection:
1. Drones for Aerial Views
Drones are also known as unmanned aircraft systems (UAS), and they are revolutionizing the commercial real estate market. Drones allow you to get an aerial view of the commercial site before selection. There are parts of an office or warehouse space that you may not be able to see—places like the roof condition and hidden places in a building.
However, the small size of a drone allows you to have a clearer understanding of an environment. For instance, the automobile flows, pedestrian traffic, access for delivery vehicles are all much easier to see with a proverbial eye in the sky.
2. Virtual Reality and Remote Tours
This is an emerging technology that is truly shaping the industry. With virtual reality, you do not have to leave your current office or location to have a real time view of the property. Certain VR software and hardware allow you to take a virtual tour of the compound and have real-time conversations with the agents as regards the different aspects of the building, such as the materials, maintenance, insulation and any other areas of concern you might have.
3. Research Markets
Today, you can have access to thousands of online databases where you can verify whether an area is ideal for your business. These are good sources to start your search and see what's available, but always engage a tenant rep broker to guide you through the process.
4. Artificial Intelligence and the Internet of Things
There are certain things you should ensure you verify before signing the office lease. For instance, the energy consumption of the building is very important, and instead of relying on some random unverifiable data from the landlord, Internet-of-Things (IoT) helps in collecting and analyzing the data. Combining AI and other emerging technologies, you can have accurate data as regards energy consumption and real-time data on how tenants utilize the workspace and other details that will affect your experience.
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