Unlocking the next wave of value in corporate real estate

Harry Morphakis and Michael Przytula
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Harry Morphakis: Accenture, UK
Michael Przytula: Managing Director and Global Lead, Accenture, USA

Corporate Real Estate Journal, 2022, vol. 12, issue 1, 6-16

Abstract: As real estate providers seek to recover from the COVID-19 pandemic’s impact on their tenants’ businesses — and, by association, their own — a serious question has to be asked: to drive the next wave of value, will the new normal require a change in the landlord–tenant relationship? This paper argues that the answer is yes. It requires a change from the legacy real estate mindset of cost control and reducing expenditure per square foot, to one of increasing value per square foot. Landlords can make use of a number of critical technologies to pave the way to this next wave of value creation across their portfolios: the Internet of Things (IoT), 5G and digital tenant services. This paper explores the use of these technologies, their benefits, what is required to precipitate a change in the relationship with tenants and how this will shape future operating models.

Keywords: IoT; 5G; smart buildings; digital tenant (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aza:crej00:y:2022:v:12:i:1:p:6-16

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