We asked some of our Governors and Visionaries: “What opportunities do you see for commercial real estate with the introduction of 5G?”
“5G will drive the ‘Internet of Things’ that will connect trillions of sensors from around the globe. These sensors will be collecting and transmitting real time data on everything in and around where we work, live and play. The convergence of 5G-enabled technologies will drive the multi-system connectivity that will create smart cities, smart buildings, smart transportation, smart cars and more.
For commercial real estate, 5G will mean transparency for all facets of a building’s operations and performance. Our CRE leaders will have to be a combination of psychologist, technologist, rainmaker, innovator, inventor and forward-thinker. CRE’s role will be more relevant than ever in building the world of the future, and in order to do this as an industry we must be early adaptors of 5G in order to remain relevant. CRE, as we know it, will not survive by just evolving – we must recognize we are in a global revolution where the status quo will no longer prevail. The nimble, quick and next-generation risk-takers will have their knowledge and expertise redirected from ‘just making deals’ to being essential players in creating a better world. Sounds like fun to me!”
Dale R. Dekker, AIA, AICP
Board of Directors, Principal/Architect, Dekker/Perich/Sabatini Ltd.
“From a logistics/industrial perspective, my view is that 5G will continue to facilitate the automation of warehouses and provide logistics tenants with enhanced inventory tracking. The ability of users to increase the speed and amount of data collected should allow for greater automation of warehouses and help address the warehouse labor shortages our tenants are experiencing in certain areas of the U.S. Increased data speed should also facilitate enhanced inventory tracking, allowing our tenants to operate more efficiently through better warehouse space utilization, potentially less inventory carry, or improved delivery logistics.”
Senior Vice President, Black Creek Group
“5G will bring the next evolution to the world of connectivity. It’s the largest step in data information transfer since broadband internet lines started getting installed in office spaces and homes over 20 years ago. Wi-Fi networking will be impacted, if not obsolete, because the speed of 5G will likely surpass what we are using today. Machinery won’t need to be ‘plugged in’ to an internet portal in order to communicate. New cars and trucks will likely come with 5G wireless connection, making it possibly for employees to work from anywhere. They won’t be tethered to their office computer. Truckers will be able to plan their routes based on traffic information updated by the second, and can choose which routes to take in order to best utilize their time and dock space. Developers will also use 5G lines to identify opportunity zones, where their tenants can be better connected to the internet wirelessly rather than having to run Ethernet cables throughout an entire building.”
Director of Leasing and Property Management, Primera Companies, LLC