Kenny Kane is the Chief Operating Officer at Firmspace.
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After a pandemic slump, the property technology (aka proptech) market is starting to heat up. Major commercial real estate (CRE) brokerages like JLL and Cushman & Wakefield have taken a bet of confidence in the space by backing proptech venture capital funds.
The emerging proptech boom comes at a good time. As companies evaluate their downtown office space needs, many are asking:
• Will the office be safe if there’s a resurgence of Covid-19 or another infectious disease?
• Can we efficiently share office space with other tenants?
• Will there be infrastructure to support communication with remote team members?
Luckily, there’s a proptech solution for each of those concerns. Here’s how proptech innovation can bolster a safe and productive return to the office.
Healthier Offices: IoT Aids Better Environment Control
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Many pre-pandemic office models — namely, the open floor plan — were a hotbed for disease transmission. As the Delta variant spreads to every U.S. state while workers trickle back into the office, building managers must invest in environmental safety upgrades.
For a long time, CRE companies relied on manual methods to monitor office safety measures like air quality. That is, until recently, as smart office technology powered by IoT becomes more accessible and cost-effective for CRE companies of all sizes. Based on occupancy detection, wireless IoT sensors can automatically regulate and adjust environmental features accordingly, including ventilation, heating and lighting.
Better environment management can yield cost savings in energy spending for CRE companies, but the benefits will also be appreciated by tenant companies and workers. Healthy office environments have a well-documented impact on employees’ productivity.
IoT can’t replace upgrades to physical safety protocols, like ventilation and filtration systems, of course. But using smart office technology can help building managers ensure their efficacy.
Shared Tenancy: Occupancy Sensors Help Building Managers Support Multiple Tenants
The same proptech that can be used for environment management can also help CRE companies support shared tenancy models.
A number of companies have downsized their real estate footprint, choosing, for example, to relocate to a smaller headquarters for the executive team only. To accommodate requests for less office space, some CRE companies are providing more shared tenancy models in existing floor plans.
But these teams will need support from building management to streamline team use and rotation. Occupancy and footpath sensors can help CRE companies manage:
• Building entry control with mobile keycards.
• Cloud-based security systems.
• Layout optimization for socially distanced collaboration.
• Sanitation schedules for shared spaces.
For example, a smart access sensor can limit building entry once the occupancy of a certain office space has reached capacity, and a footpath sensor can notify management about sanitation needs once it reaches a certain number.
Collaboration With Hybrid Teams: Proptech Enables Digital Integrations In Office Designs
CRE leaders can also differentiate their properties by investing in proptech that supports virtual collaboration.
As companies like Apple commit to hybrid work plans, they’ll need to ensure those employees who do return to the office can securely communicate with those who don’t. Enterprise mobility, or the ability for employees to conduct business from the office or anywhere, can be made possible by the right digital support in-office.
Virtual interfacing via tools like two-way video intercoms will likely emerge as a trend in CRE proptech investment. Offices equipped with this technology allow hybrid teams to easily communicate with high video and audio quality.
Communications software like Zoom, Slack and Microsoft Teams will likely continue to play a major role in remote collaboration. But office-based teams will need a strong IT infrastructure, especially as cybersecurity threats to hybrid teams loom. CRE companies should also consider reevaluating their on-premise IT safeguards, such as servers and physical storage.
A Safer And More Secure Return to Office
As companies in every industry grapple with the implications of returning to the office, from productivity to public health, the CRE industry can do a lot to ease common anxieties.
CRE leaders can strengthen their existing portfolios by investing in the right proptech solutions, from digital communication infrastructure to IoT sensors. Technology can help take the burden off of building managers and tenants in creating a healthy and flexible office environment — and let employees just get to work.
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