As national stay-at-home orders have shifted much of the economy toward a delivery model, the negative implications have been broadly felt, extending in the commercial real estate arena.
However, Marcus & Millichap says industrial appears to be an exception to the rule.
Traditionally slow to adopt new concepts, the real estate industry is finally embracing technology and using it to leverage its power.
One element of technology that has taken off like wildfire in the industry is big data, which can be defined as “extremely large data sets that may be analyzed computationally to reveal patterns, trends and associations, especially relating to human behavior and interactions.” In the highly competitive, fast-paced world of commercial real estate, big data is one method companies are using to form strategies and target end users—and it’s been quite effective.
