Technology Trends in Real Estate


The National Assn. of Building Owners and Managers, in conjunction with RealComm, asked more than 7,000 BOMA members in June how new technologies and business solutions are affecting the way they manage and operate their commercial properties. The results are enlightening.

Broken down into two main categories of questions—solutions for company/business and for buildings—the Realcomm/BOMA Technology Survey findings regarding indispensable building technologies included the following:

As one might expect, 86% reported having Internet connectivity of T1 or higher, supporting the increased dependency on high-speed broadband over the last five to 10 years. One surprising statistic, however, was that 52% of respondents said their building does not have a web site. In other building technology, only 16% said they have interactive touch-screen directories, and a mere 4% have digital signage.

The implementation of technologies for buildings seemed to lag behind internal technologies for business, but 41% of respondents listed “don't know what solutions are available,” and 26% listed “don't understand the solutions that are available” as key challenges in implementing new technologies for their buildings.

But lack of knowledge and time constraints weren't the only hurdles. In fact, 72% listed “funding constraints” as the biggest challenge in implementing new technologies. While technology is supposed to help decrease operating expenses and increase productivity, sometimes that initial investment is still getting bumped off the budget. Well-defined ROI models and successful case studies of technology improvements within the commercial real estate industry are needed to overcome the apparent financial obstacles.

An interesting revelation regarding budgeting and purchasing was that the chief information officer or chief technology officer was the second highest response in terms of who is responsible for making decisions on purchasing new technologies, at 20%.

No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
Emergency lighting; NFPA 3 and 4; Integrated building systems; Smart lighting, HVAC design
Designing for energy efficiency; Understanding and applying NFPA 101 for mission critical facilities; Integrating commissioning and testing for fire alarm systems; Optimizing unitary pumping solutions
Economics of HVAC systems; NFPA 110-2016; Designing and choosing modular data centers
Tying a microgrid to the smart grid; Paralleling generator systems; Previewing NEC 2017 changes
Driving motor efficiency; Preventing Arc Flash in mission critical facilities; Integrating alternative power and existing electrical systems
Putting COPS into context; Designing medium-voltage electrical systems; Planning and designing resilient, efficient data centers; The nine steps of designing generator fuel systems
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Fire & Life Safety Engineer; Technip USA Inc.
click me