Technology is allowing new insights into commercial real estate, according to a recent article by CNBC. Here’s a look at the emerging data trends and companies that may impact commercial real estate in the Boston Metro area!
Analyzing risk in commercial real estate investment and financing can be an intensive process. A company called CrediFi provides big data services that streamline risk evaluation while providing transparency and oversight. CrediFi creates credit risk algorithms that pull data from multiple public and licensed sources, analyzing property and market information in order to produce a regional risk score. The company currently offers its technical wizardry in six major metros, including Boston.
Start-up company VTS brings high-tech leasing and asset management services to commercial real estate. VTS, meaning “View the Space” is a single-technology platform that allows landlords and brokers to manage entire portfolios. VTS promises to improve productivity in the commercial real estate market by tracking deal activity, identifying market trends and quantifying portfolio performance. VTS’s leadership includes former CEO’s of other successful tech start-ups that are now household names, such as eHarmony and Rent.com.
Jones Lang LaSalle sees the future of property management tied to the “Internet of Things.” Internal temperature control, lighting, security and other mechanical systems may soon be automatically controlled according to unique algorithms. Imagine a building’s cooling system adjusting itself to compensate for extreme weather conditions – or a lighting system that automatically shuts off lights when an area is vacated. The challenge to economic viability comes in retrofitting older buildings with today’s sensor technology. Still, the paradigm shift to “smart” buildings is underway, bringing the potential for significant energy savings and automated property management.
There’s no doubt that big data can be a benefit to the commercial real estate industry, especially to institutional investors and developers. But when it comes to finding Boston Metro commercial real estate for your business purposes, there’s no substitute for the expertise of an experienced commercial real estate broker who understands the market.
Ready to begin, expand, or relocate your business? Whether you are thinking of buying or leasing Boston Metro commercial real estate, we can help you find the ideal property. Please contact us today for expert guidance!