Commercial Real Estate (CRE), Technology and AI
Patrick McGrath, K.C. Cleary,Lnkd.in/esnKip3
- USER EXPERIENCE. "The experience you feel in a commercial building is what really matters, and where smart owners are putting considerable effort and money. Like retailers have for many years, now office and even industrial owners realize that this is now a must if they want to attract and retain quality tenants." (edited)
- "The DISTINCTION between retail, office, hotel, and industrial categories of real estate are blurring and merging. The tenant wants to have all these options nearby (or all in one place) and accessible in this 24/7 world."
- "5G CONNECTIVITY is coming, and every building owner needs to embrace and get in front of it,or be left behind like the horse and buggy."
- "ALL ARE TECH COMPANIES, so every business must have a strategy to embrace and implement technology throughout its business, or it will fail. [ANSWER THESE:] What are the implications? What technologies should law firms, brokerage firms, manufacturing firms, etc. be fostering and embracing?"
- "May still be far from standard in CRE, but high-end firms have already been AR and AI. Rapid change will leave some CRE pros behind and pushing others to the forefront. [Next: '5 Ways AR and AI are Changing CRE by Sector']" (edited)
- "RETAIL. AR/AI is affecting the way retail sells products. Some stores are trimming down to the nuts and bolts and just using AR to sell clothes, furniture, cars, and appliances. RETAIL CRE will need to be equipped for these technologies, and opens up the range of suitable assets for retailers looking to save on inventory costs and physical product warehousing." (edited)
- More next week
Commercial Real Estate (CRE) and Business
Kenton Johnson Comments:
Much more from earlier at LinkedIn.ProsperSystems.biz
- Scott Lynn: RETAIL APOCALYPSE HYPE. "Retail Continues to Rock, but enders and investors are digging into better ways to mitigate risk." Innovative, experiential and superior customer service retailers will continue the thrive. Carefully analyzing retail tenants will keep landlords profitable. (edited) Real Estate Investment Group
- Mark Ainley: How to MANAGE TENANTS: "Managing tenants needs consistency and set expectations." "Succinct and informative article! Sounds much like parenting: Consistency, Communications, Manage Expectations, Screening and Convenience" (edited) Real Estate Investment Group
- Scott Lynn: CAP RATES Not Responding to INTEREST RATE INCREASES. "The only real question being debated is how many additional rate increases the Fed will execute in the next 6 months - one more, two?" Cap Rates have proven to move for various reasons, with capital costs being only ONE part of the equation. Growth in the economy and the prospect for rent growth also factor into resultant Cap Rates. (edited) Real Estate Investment Group
- Azeez Olawale-Arish Yusuff: "Follow me for JOB OPPORTUNITIES across the globe." Good reaching out and collaborating. We connected many years ago. Followers - Connect or Follow Azeez for MANY possibilities! (edited) Link
- ACCESSIBILITY. "THE BEST people respond to [LinkedIn-Invite] call and email [professional collaboration requests and follow-ups]." Top-34 List (Summarized from 8/24)
- HAVE A FOLLOWING. "If someone has worked hard to build a following on social media in the business world, I am impressed! In my experience, connecting with real estate professionals on social media is not easy. If someone has others following them, that’s really impressive to me." (edited)
- HELP YOU WITHOUT ASKING FOR ANYTHING. "The ones who just want to help without looking for something in return have the most power. They genuinely believe in win-win!" (edited)
- "They DO WHAT THEY PROMISE. How often do you speak to someone, agree to some kind of action like an intro or some feedback, then never hear back (or it takes a million follow ups)? Influencers believe in standing by their word!" (edited)
- "Others LISTEN TO / RESPECT THEM. They have credibility in what they say and how they say it, and have worked hard to earn peoples' respect." (edited)
- "Setting SMALL INCREMENTAL GOALS can make any tedious task become less of a chore. Incentivize yourself through identifying mini milestones and only getting a coffee or grabbing a snack after completing a certain amount of work. You will find that time passes a lot faster, and the task will feel less monotonous. –Luigi Wewege, President and CEO, Vivier Group" (edited)
Much more from earlier at LinkedIn.ProsperSystems.biz
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