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Coworking, IoT & VR/AR – 3 Ways Technology is Impacting Commercial Real Estate

Excerpts from an article by the Business Collective & Young Entrepreneur Council – May 2017:

When technological advances and information becomes more available to the consumer, there are a few significant trends to be aware of when you are considering an office space for your startup.

The Sharing Economy Will Continue to Grow

The startup craze has ignited a fire in office sharing. In 2015, devoted coworking spaces like The Yard and WeWork became increasingly popular, and so did other options for coworking: desk-sharing via PivotDesk, office spaces by the hour through sites like Breather, and space rental for events through Splacer.

Young companies don’t have the resources to lease an entire office but might consider renting out a few desks or a place in a coworking space for the interim.

For well-established companies, take advantage of this demand by leasing out unused space. Not only will this counterbalance costs, but it will also encourage collaboration beyond the confines of your business.

The Demand for the Internet of Things (IoT) 

As the workplace decentralizes, the need for transparent information about different locations grows. With IoT connectivity, monitoring and managing this information becomes simple because it allows an administrator to view and manage all this information about every location, from anywhere in the world.

For a tech startup, having the ability to monitor their office from afar or IoT enabled amenities will be an appealing quality.

For developers of IoT technology, commercial real estate is the perfect industry to tackle because it can entertain enterprise-level contracts, and many businesses are technologically inept.

While the demand for IoT will increase, it will likely not become commonplace right away due to buildings unable to support it. There are some simple IoT technologies that don’t require extra credentials, but if startups want to go full high-tech, they’ll have to find a special property and pay a premium.

VR and AR in Real Estate