Real News from RealNex

In today’s commercial real estate business arena, email is a pivotal link keeping businesses and clients connected.

We’ve just transitioned into the new year… and you know what that means: new technology. 

2020 has been a revolutionary year for global business culture. The coronavirus pandemic drastically impacted the ways that professionals from every industry operated. In order to accommodate the sudden social distancing concerns for health and safety, companies transitioned to a remote model. 

It’s no secret that PropTech is essential for commercial real estate teams. 

In the world of commercial real estate, technology is certainly nothing new. For many years now, technology has been at the center of commercial real estate, bolstering the industry to new heights. These revolutionary tools of technology have been used to help shape the face of commercial real estate,  and it shows no signs of slowing down anytime soon. 

If you take a look around, it’s easy to see that the traditional shopping mall has been in steady decline over the past several years. According to research firm Moody’s Analytics, mall vacancies were at a historic high of 9.8 percent in September 2020, which exceeded the previous high of 9.3 percent in 2011. And, unfortunately, this trend doesn’t seem to be going away anytime soon. In fact, Coresight Research recently estimated that 25 percent of America’s approximately 1,000 existing shopping malls will close over the next three to five years. 

As we continually face unexpected obstacles, the real challenge lies in finding new and creative ways of using the technologies that we already have in order to solve today’s problems. 

Real estate, both commercial and residential, has been exploring new ways to conduct property showings for some time now. 

In light of the recent events, commercial real estate professionals all around the globe have one question in mind - moving forward, how can we make our buildings safer? 

By Jeffrey D. Fisher, Ph.D.