Technological Advancement: Where is it Taking Real Estate Today?

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Just what is all the buzz about technological advancement and its impact on the real estate industry? E-Buildings? I-Buildings? The most widely used term in many technology hubs is “Smart Building.” Building owners and developers must anticipate how advancements in technology will impact a building’s infrastructure. Developing a flexible infrastructure that will accommodate future changes in technology is essential. An owner must plan and implement a variety of different services.

What is a Smart Building? It is defined as “a state-of-the-art facility with the latest and greatest in design technology.” Smart Buildings help owners, property managers, and occupants realize their goals in the areas of cost, comfort, convenience, safety, long-term flexibility, and marketability. The main goal of a Smart Building is to have the optimal technological intelligence to match the occupant’s needs. Today’s tenants require access to high technology, with the result that location decisions are largely driven by access to Smart Building features.

Technological advances have changed the way we do business. Real estate needs are user-defined, and certainly, most needs today are technology-driven. Access to the latest technology is no longer considered simply an amenity, but rather a basic requirement. In creating a Smart Building it is important to be aware of the features that current or potential tenants will most often demand: energy efficiency, safety systems, telecommunication systems, and workplace automation. In the end, the Smartest Building is the one with the precise infrastructure and technology not only to attract and retain tenants, but also to anticipate and meet their future technological requirements.

F Examples of Smart Buildings

F One Wilshire Los Angeles (downtown), CA

F 55 South Market Street San Jose, CA

F 1801 North Lynn Street Rosslyn, VA

F 1500 Eckington Place Washington, D.C.

F 55 Broad Street New York, NY

F Infomart, 1950 Stemmons Fwy. Dallas, TX

F Bishop Ranch Business Park Pleasanton, CA

F Examples of Smart Building Features

F Built-in wiring for Internet access

F LAN/WAN connectivity

F High-tech, energy-efficient HVAC systems

F Redundant power sources

F Fiber-optic cabling

F Satellite accessibility

F Wiring for high-speed networks

F Video conferencing/multimedia networking

This article by Robert Elia, Elena Villarreal and Kfir Mizrahi originally appeared in “Technology Beat,” a publication of Cushman & Wakefield Research Services.

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