Proptech Is Transforming The Office Industry
Smart offices have been growing in popularity in recent years. These technologies allow landlords to cut down on costs, control heating and lighting usage, occupancy levels, while also collecting data to help them improve their daily operations.
The property technology industry has skyrocketed in popularity as property managers want deeper insights into how to control their energy usage and prepare for workers to return to the office space.
“There will be a dramatic increase in the information we have about how people use our buildings, and sensors will be more common,” said Charlie Kuntz, innovation officer at real estate investment firm Hines.
However, this type of data collection has led to concerns of cybersecurity. In fact, a Deloitte report revealed that cybersecurity threats have become much more sophisticated in recent months. Now, the risk of smart devices being hacked has become a huge concern.
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Despite these worries, developers are anticipating big changes to the post-pandemic commercial real estate world. With companies cutting down on their real estate footprint and offices being over supplied, the industry must make big adjustments to boost their businesses.
For example, Houston’s 1550 on the Green office tower is anticipated to open in 2024 and will feature a variety of environmental controls and other smart building tools.
The space will include thousands of sensors across the building’s 375,000 square feet that track movement, occupancy and efficiency. Doing so allows artificial intelligence to analyze data and help tenants have a better look at how the office is occupied, and what developers can do to improve their experience.
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