Traditionally, the most fundamental rule of commercial real estate (CRE) is location. However, while being close to customers, suppliers and employees remains an important factor, there is a newer and increasingly significant consideration for CRE in the modern age – Information. This shift within CRE has been underway for a decade or so with the growth of online shopping and web-based businesses pulling us away from the traditional consumer model. The Internet of Things (IoT) is now fostering new avenues of value creation for customers, greater differentiation from competitors, and fresh sources of revenue for CRE through the collection and use of information. IoT applications have the obvious ability to increase profits though greater efficiency in building operations, but also to enhance tenant relationships by adding services that improve the building’s user experience. Consider smart thermostats, which give the tenant the ability to perfectly adjust temperature, humidity, and light based on personal preferences, climatic conditions […]