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2020 Is The Tech Awakening CRE Has Been Waiting For

Alexandra Marvar,

The circumstances of the coronavirus pandemic have forced tech adoption at an unprecedented rate: The construction industry is implementing augmented and virtual reality, robots and drones to accommodate social distancing. An avalanche of urgent lease changes is prompting investment managers and corporate leaders to revisit the ways they process and standardize data. Large-scale office owners are utilizing cutting-edge tools to implement responsive space reconfigurations, contact tracing and space-age HVAC technology across their properties.

All these changes and new technologies might have been prompted by a need to adapt on the fly to what everyone hopes are temporary circumstances — but some of them have staying power. When the coronavirus is no more, commercial real estate will be left with a much higher-tech way of doing things.

“Traditionally, the real estate industry, especially commercial real estate, has been technology-averse,” Grace Hill Commercial Industry Principal Perry Levine told Bisnow. “COVID-19 changed the paradigm.”

Bisnow talked to companies across sectors about the new systems and tools they have implemented to ease the strife of the past six months  — and what they will be keeping in place when the pandemic subsides.

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