Tech advances a disruptive force on the traditional commercial real estate industry
08 Jun, 2016, 09:00 ET
Avison Young releases Technological Disruption and Real Estate Industry Topical Report
TORONTO, June 8, 2016 /CNW/ - New technologies are changing the way we live, work and play. At the same time, innovations in material science, construction technology, building operating systems and finance are set to upend the staid commercial real estate market, delivering higher performance, lower cost and reconfigured solutions to the marketplace. Those industry professionals who ignore such advances will risk becoming irrelevant in the "smart" cities of the future.
The process-technology revolution – the application of data analytics, hardware and software innovation and disruptive business models – may have the greatest effect of all on the real estate services industry. Investors and occupiers need to understand how to identify properties that will contribute the most value to the workplace as well as to the bottom line. That means having managers and advisors in place who not only understand the trends at work, but recognize their strategic significance in creating real estate portfolios that are relevant, forward-thinking and built to last.
These are some of the key trends noted in Avison Young's Topical Report "Technological Disruption and the Real Estate Industry: How Technology is Changing Our Business and Opening a World of Opportunity", released today.
"This topical report is intended to help institutional investors and their service providers gain a better grasp of the range and impact of these -- and many more -- forthcoming technology innovations," comments Amy Erixon, Avison Young Principal and Managing Director, Investments, who authored the report. "We examine four critical areas: software and hardware innovation, construction and materials engineering, process technology, and smart cities infrastructure and policies. The report provides examples to illustrate how change and disruption will manifest, and discusses how the convergence of various technological applications can result in profound progress and significant investment opportunities."
The report notes the computational abilities currently being embedded in buildings and how infrastructure can be augmented with wireless sensors to provide automated monitoring, analysis and control of virtually any metric with or without human intervention. The report concludes that technological disruption and transformation will, or certainly should, alter investment portfolio criteria -- and those criteria must be clearly, deeply and strategically understood by decision-makers.
"Buildings and cities of the future will be smarter, greener and more dynamic," adds Erixon, who is based in Toronto. "Implications for the existing building stock are vast. Companies and industries looking to lead will leverage technological change to come out on top."
Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,200 real estate professionals in 77 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.
• Please click on link to view and download Avison Young's Topical Report "Technological Disruption and the Real Estate Industry: How Technology is Changing Our Business and Opening a World of Opportunity"
For further information/comment/photos:
- Sherry Quan, Principal and Global Director of Communications & Media Relations, Avison Young: 604.647-5098; cell: 604.726-0959
- Amy Erixon, Principal and Managing Director - Investments, Avison Young: 416.673.4034
- Mark Rose, Chair and CEO, Avison Young: 416.673.4028
Avison Young was a winner of Canada's Best Managed Companies program in 2011, 2012, 2013 and 2014 and requalified in 2015 to maintain its status as a Best Managed Gold company
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SOURCE Avison Young Commercial Real Estate (BC)
For further information: Media Relations: Sherry Quan, 604.647.5098 or 604.726.0959, email: [email protected]
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