Law Office of Henry B. LaTorraca Civil Trial Attorney

Using technology to differentiate commercial property

Commercial property owners in California might be able to optimize their properties by implementing smart building technologies. These technologies may help by connecting the various processes within buildings to improve energy efficiency while providing visualizations of how the various systems are working.

Smart building technologies are available because of the development of the internet of things. This technological advance helps by connecting such systems as the HVAC, physical security and lighting systems so that they can be monitored from anywhere through wearables and mobile devices. Having these types of systems installed may allow commercial property owners to differentiate their buildings from others that are available in the marketplace.

Experts believe that around half of the workforce will be working as freelancers by 2020. Today's students are expected to have an average of eight to 10 jobs by the time they reach age 38. With the changing jobs landscape, optimizing office space to increase its efficiency is important. When owners are able to advertise that their buildings use forward-looking technology to help tenants to take advantage of better optimization, they may have higher occupancy rates.

People who are involved in the commercial real estate market may want to take every potentially competitive avenue that is available. By installing smart building technology, owners may be able to command higher prices and make better profits on their spaces. Commercial law attorneys may help owners and developers with understanding the regulations and laws governing commercial properties so that their clients make certain that they are in full compliance. They may assist them with writing leases and sales agreements in a way that best protects their clients' financial interests.

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