Insights from the 2018 SIOR Fall World Conference
We’ve increased our efforts to promote Calgary’s industrial market, build long-term relationships, stay up to date on trends and strategies, and bring more interest and potential clients to you. That’s why we’re working closely with Calgary Economic Development and attending industry events like Society of Industrial and Office Realtors’ (SIOR) 2018 Fall World Conference. It was an opportunity to network with brokers from all over North America and learn more about the tools they’ve used to build their business.
Embracing tech and adapting
Technology is something our industry needs to welcome and champion. After all, smarter, better tech makes things easier for our industry as a whole––and your clients. RE&DS is committed to sharing information and helping create more meaningful data, and we know you are too. It’s why we’re reporting on recent sales and upcoming listings in our newsletters now.
In the “Creating More Space by Adding Value” session, Brad Pope from Jones Lang LaSalle talked about how important it is to understand how technology can help your clients use space more efficiently. Pope noted that the “formula in industrial used to be length x width x height. Now it’s length x width x technology.”
Another key topic was around e-commerce––specifically how last-mile delivery was transforming traditional retail areas into more industrial ones. Considering new and different approaches to conventional leases can still balance stable returns for landlords and flexibility for tenants. One example of this is space sharing, where you’re matching capacity with demand.
Watch the highlights from SIOR’s Investing in CRE Tech seminar.
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Blockchain is inevitable
The other important insight for Calgary brokers has to do with earlier adoption of technology––specifically preparing for blockchain. What exactly is it? It’s the record-keeping technology behind bitcoin. (Well, that’s it in a nutshell. But you can read this CNBC article for an in-depth explanation.) The main takeaway from SIOR is that blockchain is unavoidable and will change the nature of transactions in real estate, from tenants and landlords to brokers and developers. It will affect the relationship between clients and the brokerage industry, and how business is done. Education and preparation will ensure you don’t get left behind.
While we have a way to go, our industry as a whole is starting to see the need for new ideas, methods, and solutions. RE&DS is part of that, which is why we’ve been exploring opportunities for future park developments to make them smarter through automation, tech-based efficiencies, and exploring possible features like traffic light synchronization and district energy loops.
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