Real estate is one of the most exciting places to examine the tech revolution at work. Long seen because the Cinderella asset class due to its relative illiquidity, opacity and asymmetries of information, the very characteristics that made real estate difficult to navigate also are making it the proper proving ground for technologies that break down info barriers and eliminate friction.
We’re seeing PropTech have an impact at each step of the life cycle of a building, from development to operation to eventual change of use. for example, in the office sector, our sister development firm Trammell Crow Company is making buildings with larger ride-sharing opportunities and drop-off areas. This will increase capacity by repurposing garages that are presently needed for future office space because the proportion of individuals commuting by car falls. increasingly, these office buildings are marketed to tenants using virtual reality(VR) tours of space that's still being built, with visualizations of how space is used most efficiently. both investors and managers of the office are ready to use PropTech to see 3-D stacking plans of the tenants with all their relevant info per floor.