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Futureproofing Commercial Real Estate Investment

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By Author: Priyanshu Adathakkar
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The volatility of the commercial real estate investment doesn’t show any sign of slowing down. The US is officially in a recession now and the workforce has increasingly become homebound. Many businesses have found this very cost-effective; it becomes more challenging to determine what your commercial real estate portfolio should look like.

Here are a few things you can do to make the most out of your properties and set yourself up for the years to come.

1. Understand challenges in the industry:
At any point in time, there are two facts that will be affecting commercial real estate investment!– those you can control and those you can’t. While you might not be able to avoid or change external factors, you can always have the option to choose how to handle them. That’s why the first step to futureproofing your commercial real estate portfolio is getting to know the issues affecting the CRE industry as a whole.
One of the most significant factors affecting CRE is the growing emphasis on the occupant/employee experience and the shifting of real estate from being a physical space to more of a service hub. Over the past decade, the expectancy of occupants from a space has changed considerably.
Technology has enabled professional’s enormous freedom to choose where they want to spend their time. While coworking spaces were a growing trend in the pre-covid era the future of this kind of business is in serious question. The good news here is by offering the right technology, CRE investors can offer alternatives. There is no doubt that the popularity of coworking spaces gained popularity because more and more professionals were forced to become independent contractors after the last recession. This time around, with the highest unemployment rate in history, the pool of professionals is likely to grow exponentially.

2. Evaluate property and asset performance:
It would help if you had a deep insight on current performance and utilization of commercial real estate to futureproof your portfolio effectively. Space management software will get you access to essential information like locations, sizes, types of properties, etc. Asset management software is another critical part of the equation. Asset management offers deep insights into location, age and useful life of every asset, giving you access to more intelligent maintenance.

Space and asset management software is powerful because they directly integrate with various technologies. Sensors like IoT capture utilization and occupancy data enables you to see the actual usage and performance of every space and asset in your real estate investment portfolio.

3. Set goals and targets:
Having identified the factors that affect the performance and life of your portfolio, now you have to set the baselines and benchmarks for the evaluated current performance. You can start by reviewing your short-term and long-term goals. Your business objectives will impact your real estate strategy in the years to come. Having everyone on the same page will help to develop specific targets and milestones. Determine space utilization metrics that will be the best indicator of progress towards the goal. Once the project is underway, you can create dashboards for reporting and analytics with your space management software to get real-time updates.

To stay ahead of the curve, you need to ride the curve. Commercial real estate investment is a volatile business, and you will need to adapt to remain relevant in this field. If you need any assistance with commercial real estate property, come to us at Perfect RealEstate Investments, and we can help you out.

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