Over the past few years, CRE has transitioned into the high-tech world of Smart Buildings. This means that tenants, managers, and owners have a completely different relationship with these properties. Let’s take a look at the latest PropTech developments and how they’re revisioning CRE’s different sectors: 

Retail’s Cashless Revolution

As the era of online shopping continues to rage on, brick-and-mortar retail has undergone its fair share of struggles. However, don’t make the mistake of counting physical stores out yet - they’ve still got a few tricks up their sleeves. 

One such adaptation that’s helping brick-and-mortar stores stay in favor of today’s consumers is cash-free shopping. More and more brands are switching to the cash-less module, all made possible by technological advancements.

This tech-based solution provides both consumers and brands with advanced security, greater loss prevention, and a quicker and easier check-out system. In China alone, experts expect that mobile payments will become a $45 trillion industry by 2020. 

Multi-family’s Mobile Movement

PropTech is dominating CRE’s multi-family sector, and it’s easy to see why. Today’s residents are looking for luxury, automation, and efficiency - all in one. Multi-family properties can deliver this through advanced mobile access. Up and coming IoT Smart solutions are putting the power right into the palms of property managers’ and residents’ hands. 

The Smart Apartment solutions available today provide a hands-free, mobile-centric and incredibly convenient method for people to interact with buildings. With this advanced web of technology; residents can control temperature, lights, locks, and even appliances. Property managers and employees can monitor energy usage, quickly zero-in on leaks and problems, and provide increased security for residents.  

Offices and the Era of Automation 

While mobile apps are today’s biggest thing, proptech continues to evolve into a new and increasingly user-friendly modality: voice automation. This is specifically predominant within CRE’s office sector, as it’s offering greater value for innovative workspace design. Team members can easily tell their office Smart device what they want, and watch the building respond. Management also benefits from their property’s enhanced capacity; being able to employ drones for inspections, monitor what areas are most favored by employees, and also control security and resources. 

Warehouses and Big Data 

Don’t think that warehouses are being left out of these advancements. Big Data is making waves within the commercial industrial scene, and it’s redesigning the entire sector. 

When it comes to organization, Big Data rules supreme. New barcode technology enables amplified cataloging of merchandise; allowing companies to track, locate, and process their inventory better than ever before. This changes the way that team members navigate through warehouses, saving time and energy throughout the process. It also allows companies to cut down on losses, analyze data sets, make predictions, and more. 

As a whole, all of these technological developments are improving user’s experiences within buildings. By deploying today’s cutting edge property technology, commercial real estate is seamlessly transitioning into tomorrow’s digital culture. 

What technologies are you looking out for? Keep up with upcoming CRE news - read about the latest industry-shaking developments on our blog!