CXRE » Technology

5 Things You Need to Know Before Buying a Texas Storage Unit Development

In 1964, Russ Williams and his stepson Bob Munn built the first self-storage facility with garage-style doors in Odessa, Texas. Over the years, self-storage facilities have cropped up all over the nation. As Americans increase spending, we need spaces to store our “stuff.” That’s why the storage unit industry is thriving. Currently, self-storage is a multi-billion dollar industry, bringing in $39.5 billion in annual revenue last year alone. Almost 10 percent of all American households rents a self-storage unit and spends an average of $88.85 per month to store their belongings. As of last year, the United States had about 1.7 billion square feet of storage space in about 50,000 storage facilities. To put that number in perspective, self-storage developments outnumber both U.S. McDonald’s restaurants (over 14,000) and Starbucks locations (around 12,000) combined. Nationwide, storage units typically see a 92% occupancy rate. But those statistics differ based on geographic location and other factors. For investors, […]

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Technology in CRE Series: Telecommuting

If you feel like life has been turned upside down over the past few months, you’re not alone. Working in a COVID-19 world can be challenging. Luckily, many employers are allowing workers to telecommute, keeping businesses running while still staying safe. In commercial real estate, technology is helping professionals get their work done, even if they can’t step foot in the office. However, many employees struggle to find a work-life balance, particularly as we all continue to adjust to this “new normal.” If you are a CRE professional working from home, we’re sharing popular real estate technology tools that can help you keep up with your workload as you telecommute. Can Real Estate Professionals Telecommute? As COVID-19 spread across the country, more and more businesses moved to “work from home” models. Currently, about half of American workers are telecommuting – double the average from a few years ago. However, even if the virus disappears, experts […]

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Technology in CRE Series: “Smart” Commercial Real Estate

It’s hard to believe that just a decade ago, commercial real estate looked entirely different than it does today. Real estate purchases often meant flying across the country, a briefcase in hand, to discuss purchasing options and negotiations. Property management meant on-site employees were working around the clock to keep building systems operational. Then, smart commercial real estate entered the scene. Technology has infiltrated nearly every part of the CRE buying, selling, and management process.  It’s no secret that CRE is slower to change than other industries. But smart commercial real estate innovations have finally entered our industry, and there’s no looking back now. These technological advances are making life easier for investors, owners, and property managers.  Here, we’re laying out some of the smart commercial real estate technology that is revolutionizing the market. You’ll learn common smart tech phrases and learn how integrating them into your business can help you streamline every part of […]

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Technology in CRE Series: Property Values in Relation to Tech Innovations

Technology is changing the way the world does business, and commercial real estate is no exception. Property managers, investors, and tenants are all focusing on how real estate technology can make their lives easier. Artificial intelligence, smart tech, machine learning, and other technologies are making CRE more profitable than ever for today’s real estate professionals. Types of Commercial Real Estate Technology Real estate property technology, often called “PropTech,” is challenging traditional methods for acquiring, leasing, and managing commercial real estate across America. Technology infiltrates nearly every part of CRE, giving investors, property managers, and tenants fast, easy access to a multitude of tools. There are many ways CRE professionals use technology effectively. From property acquisition to tenant communication, real estate technology is transforming the commercial real estate landscape. Data Analysis Tools Investors love data; it’s at the heart of CRE. In the past, investors would pour over data, spending weeks analyzing each area, searching for […]

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Technology in CRE: Artificial Intelligence

For commercial real estate investors, particularly those investing in Class A properties, analyzing and forecasting future successes or risks used to be dependent on human assessment. However, in recent years, real estate technology has made commercial investing more reliable and less risky. Today, investors use a combination of human evaluation and artificial intelligence to forecast profitable zones and identify lucrative properties. Artificial intelligence (AI) and machine learning (ML) are painting a more accurate picture of the real estate forecast for the next five, ten, or even twenty years.  Real estate technology and artificial intelligence are overtaking human data analysis as the best source of information. Here, we’re examining several ways AI can help you make the most of your commercial real estate investments and protect your portfolio. The Rise of Real Estate Technology: What is Artificial Intelligence? Though it might sound like something straight out of a science-fiction novel, artificial intelligence impacts many facets of […]

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