Real estate is no longer about “location, location, location;” it has evolved into a new mantra that we have termed, “location, experience, analytics.”
“Data and the ability to access it, while presenting many questions and challenges – such as data ownership and privacy concerns – represent a tremendous opportunity for the commercial real estate industry to enhance operations and improve the tenant experience.”
This doesn’t highlight the huge challenge of legacy systems and data locked-in into incompatible system silos in older buildings. Constructing a new building makes it quite straight-forward, you just install systems that are open and can be integrated. These high standards will be norm and tenants in older buildings will request the same services, or they will move out.