The full impact of autonomous, self-driving vehicles on our society (both commercial and private) is still not fully understood. Certainly, we won’t really know the impact until that technology really becomes a reality. In one specific area, there has already been significant speculation on how autonomous vehicles may impact the long-haul trucking industry and the commiserate jobs that may be lost.
How will self-driving vehicles impact the commercial real estate sector? Will office buildings need the amount of parking being provided now as employees are, at least conceptually, simply being dropped off? Will current retail properties undergo a change in their current use? What will be the impact on mass-transit?
The attached article provides some thought-provoking analyses on these questions and more as our technology driven society continues to grow and expand.
Larry Dietz, CCIM | Associate Broker
Written by Stanley Iezman, Christopher Macke, and Maximilian Saia for CIRE | Sept.Oct.19
Disruption in transportation, namely autonomous vehicles, will impact commercial real estate
Keeping pace with and understanding how technological innovations will shape the future is both an essential and challenging component of developing a successful, forward-thinking investment strategy. Evaluating how today’s technology disruptors might impact life in the future enables investors to better frame the risks and opportunities for real estate associated with each innovation. Given the expeditious pace of technological innovation, this practice is more important now than ever.
Larry Dietz, an associate broker with Saurage Rotenberg Commercial Real Estate, LLC, has over 30 years of Sales, Marketing and Public Relations experience. He is a Designee member of the Certified Commercial Investment Member Institute (CCIM) and CCIM Louisiana Chapter; a member of the Commercial Investment Division of the Greater Baton Rouge Board of REALTORS® (CID); as well as an affiliate member of the National Association of REALTORS® (NAR). He is a licensed real estate broker in Louisiana and Mississippi.
Saurage Rotenberg Commercial Real Estate, LLC is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).