How IoT Can Help Create Safer Workplaces During COVID-19 and Beyond

Originally published by Mark Milligan for NAIOP's Winter 2020/2021 Issue

Data gathered by smart sensors can provide actionable information to guide social distancing, sanitizing and more.

As the end of 2020 approaches, the commercial real estate industry continues to face uncertainty from the COVID-19 pandemic. Many companies have shifted to a work-from-home model where possible, with no clear timeline for bringing employees back to the office. The unpredictability created by COVID-19 is driving office tenants to stay as flexible as possible and increase their options — forgo renewing leases, subleasing their spaces, and delaying commitments wherever possible. That makes it challenging for commercial real estate professionals to secure buyers and tenants.

In addition to the current challenges, there is much discussion in the industry about commercial real estate’s future. For example, businesses are adjusting to a virtual workforce and might not need as much office space in the years ahead — and the space they do need will likely have different requirements than in the recent past.

This was pointed out in a recent interview on CNBC with BlackRock CEO Larry Fink, who said he does not envision the firm’s entire workforce ever being in the office at the same time.

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