Technology and access to the internet has imbedded itself into nearly every aspect of business. Commercial real estate brokers should consider all facets of a property’s technological capacity. It is an important differentiator in the commercial real estate market. Just like other utilities, technology infrastructure has become a necessity to support growing business operations. When looking at technology, there are four areas that can benefit the property owner in attracting buyers or tenants.
4 Technology Areas To Benefit Commercial Real Estate
Internet Connectivity
High speed internet is no longer a luxury for business. It’s a requirement. Understanding the availability of these services can assist in your value proposition to a potential tenant or buyer. Including providers, types of speeds, and delivery methods (Cable, Fiber, Wireless) can be beneficial when explaining the differences to your market.
Wireless
The construction of a building, from not only the layout but the materials, can greatly impact how a wireless signal performs in a structure. Understanding the existing construction, along with requirements of a prospect for a property, can help position the investment decision when building out the space. If there is existing infrastructure in place, knowing the capacities will allow setting the correct expectations for the prospect of what is provided and will prevent headaches in the future.
Cabling
Often times, you’ll find existing cabling in a property. Unfortunately, the quality and appropriateness of that cabling can vary widely. This variation is not only from a standpoint of modern standards but also the requirements of the prospect. Depending on this posture, the cabling plant may need to be completely replaced. Determining this can drive the price higher for the owner or drive the price down based on the investment in the space to make it suitable for use.
On Premises Data Center
Even if a company is all cloud based with their applications, there still is a requirement for infrastructure onsite to provide the connectivity. This area should have proper power and cooling to meet the needs, as well as should be secured to prevent tampering.
If the organization requires a larger IT footprint on site for computers, the data center requirements will adjust. This will cover and increase for power and cooling, as well as the physical space needed for the data center.
Ensuring your properties are desire can take some work but will yield high profit outcomes. Just as you would think to spruce up the windows, doors, interior and exterior of a commercial property, bringing the infrastructure up to code is one less thing a buyer or renter will have to do when they move in. It could be the difference of thousands of dollars in your pocket in an extremely competitive environment.