Author: Allen Buchanan This post originally appeared on Location Advice and is republished with permission. Find out how to blog with us on theBrokerList.
Last
week we celebrated ChatGPT’s second year birthday with a review of how Chat can
be used in commercial real estate. Today, I’d like to zero in on some specific
tools that we as commercial real estate professionals are using to make the day
to day easier and more efficient.
For
industrial real estate, AI tools and technology solutions are tailored to
address the unique challenges and opportunities in logistics, warehousing,
manufacturing, and distribution. Here’s a breakdown of recommended tools
specifically for the industrial real estate sector:
1. Market Analysis and Site
Selection
·
CoStar/LoopNet:
Industry-standard platforms offering market analytics, property listings, and
comparable data for industrial real estate.
·
Reonomy:
Uses AI to analyze industrial property data, including ownership records,
zoning, and historical trends, helping identify off-market opportunities.
·
Crexi PRO:
Provides industrial market insights, listing exposure, and data analytics to
identify emerging opportunities.
1. Predictive Analytics for
Industrial Trends
·
Placer.ai:
Analyzes foot traffic, demographic patterns, and market shifts, helping assess
industrial site viability based on logistics trends.
·
Orbital Insight:
Uses satellite imagery and AI to track industrial activity such as construction
progress, inventory levels, or logistics hub demand.
1. Workflow Automation and
Property Management
·
Yardi Breeze:
Tailored for industrial property management, offering lease tracking, expense
monitoring, and automated workflows.
·
Building Engines:
Provides tools to streamline maintenance requests, tenant communications, and
operational efficiency for industrial portfolios.
·
Prologis Essentials
Marketplace: Offers asset management solutions specific to
industrial spaces, such as energy monitoring and warehouse optimization.
1. Supply Chain and
Logistics Optimization
·
JDA Software (Blue
Yonder): Uses AI for supply chain management,
optimizing warehouse operations and logistics hubs.
·
Flexe:
Facilitates on-demand warehouse solutions, using AI to match available
industrial space with logistics needs.
·
FourKites:
Real-time AI-powered tracking and visibility for freight and supply chain
logistics, crucial for industrial occupiers.
1. Lease Management and
Financial Analysis
·
VTS Rise:
Integrates industrial property leasing workflows with AI-driven insights,
including tenant demand and market trends.
·
Argus Enterprise:
Advanced modeling and valuation for industrial real estate portfolios,
including lease comparisons and pro forma analyses.
1. Tenant/Occupant
Management
·
EliseAI:
Automates tenant communications, lease renewals, and occupancy tracking,
enhancing tenant relationships in industrial spaces.
·
Basking.io:
Monitors warehouse occupancy and operational patterns, helping optimize space
usage and reduce costs.
1. Marketing and Outreach
·
Matterport for
Industrial: Creates immersive 3D virtual tours of
warehouses and manufacturing facilities, enhancing marketing efforts and
reducing time spent on physical site visits.
·
Brokermint:
Provides industrial property marketing tools, including proposal generation and
automated deal tracking.
1. Drone Technology and
Inspection
·
DroneDeploy:
Integrates drones with AI to inspect industrial properties, track construction
progress, and map large industrial sites.
·
Skycatch:
Provides high-resolution site imaging and 3D modeling for industrial property
evaluation and planning.
Each of
these tools addresses specific aspects of industrial real estate, from
acquisition and management to logistics and sustainability. By incorporating
these technologies, you can streamline operations, improve decision-making, and
enhance client service in this specialized sector.
Allen C. Buchanan, SIOR, is a principal with Lee & Associates Commercial Real Estate Services
in Orange. He can be reached at [email protected] or 714.564.7104. His website is allencbuchanan.blogspot.com.
