PropTech Innovations Enhance the Tenant Experience and Help Increase the Value of Commercial Real Estate

PropTech Innovations Enhance the Tenant Experience and Help Increase the Value of Commercial Real Estate

The COVID-19 pandemic shook the commercial real estate (CRE) marketplace to its core — and the reverberations continue. Many workers are slow to return to the office. Companies are downsizing their physical footprints. And once-thriving buildings and neighborhoods can look like ghost towns. The good news? Property technology (or PropTech) innovators — including Digital Lumens, Inc. — deliver next-gen solutions that meet the current challenges and position CRE for a brighter future.

During this period of seismic change in the marketplace, building owners face two intertwined needs: enhancing the tenant experience and increasing the value of their properties. One can’t happen without the other. As a result, updating office buildings with innovative PropTech is a front-of-mind topic for CRE professionals who want to survive and thrive in a disrupted market.

“In unsettled times, it’s important to stay flexible and be ready to make changes, fast,” says Brian Bernstein, CEO of Digital Lumens, Inc. “Digital Lumens and Encelium enable our customers to make meaningful improvements and critical upgrades to a wide range of commercial buildings, quickly and easily.

"Building owners and managers need to be able to reconfigure offices, floors, and entire buildings — quickly and efficiently — to meet the needs of tenants with rapidly evolving workforces."

Thanks to our advanced, provenPropTech solutions, our customers can attract and retain tenants, take advantage of new opportunities, and build the value of their property portfolio.”

The stats vary, but a high-profile survey by the New York Times found that 45 percent of workers want to be in the office full-time, compared with 31 percent who want to be remote full-time and 24 percent who want a hybrid work arrangement. Reluctant workers need to be lured back to offices, factories, warehouses, and other places of work. Meanwhile, workers who want to come back expect a more comfortable environment. When employees notice a significant improvement in light quality (and quantity) and a better overall working environment, it sends a strong message that their employer cares and invests in their comfort, security, and safety.

Millennials already make up 50 percent of the workforce, and by 2025 they’re projected to reach a staggering 75 percent of the global workforce. These younger workers (particularly tech workers) aren’t going to be satisfied by beige cubicles, harsh lighting, stale air, or other discomforts that employees may have tolerated in the past. They want to control their work environment with mobile phone-like speed and simplicity.

Facing high volatility and high vacancy rates, building owners need to do more with less. They need to cut costs where they can, without cutting corners that affect the all-important tenant experience. And by bringing new automation to commercial buildings, fewer managers can oversee more properties.

Building owners and managers need to be able to reconfigure offices, floors, and entire buildings—quickly and efficiently—to meet the needs of tenants with rapidly evolving workforces.

Meeting the challenges of a post-COVID CRE marketplace comes down to one core capability — control. Tenants want more control over their workplace environment and day-to-day experience. And building owners need to gain tighter control of their buildings to be more efficient, flexible, sustainable, and valuable.

Weekly Brief

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