Climate Change, Commercial Real Estate and Common Sense via National Real Estate Investor

The real estate industry is often accused of having deep pockets and short arms—it’s the reason some say real estate is slow to adapt to technological change. Unless there is a clear profit advantage to changing, or government regulation requires change, the reinvention and adoption of new technology often comes slowly to our industry.

But right now, those two irresistible forces are converging and may force our industry to change. We may be forced to lengthen our arms or shorten our legs, so to speak. And we may even like our reinvention.

We’re ultimately going to have to spend on capital improvements, make building design changes, and even find new vendors to ensure our real estate is technology smart, both energy and water efficient and sustainably designed. And if we do it well, the profit margins can be compelling.

Read more...Climate Change, Commercial Real Estate and Common Sense | Commentary content from National Real Estate Investor