Posts

Smart Buildings Are Getting Smarter, More User-Friendly

,

Advances in building and information technologies have brought a new “big data” analytics-based approach to facilities management—one that ushers in a new era of operational control, reliability and productivity for businesses and workers. Smart buildings can increase employee comfort, engagement and productivity, according to Jones Lang LaSalle’s latest report, The Changing Face of Smart Buildings: The Op-Ex Advantage.

Technological advances have finally converged with long-existing and significant opportunities for improving energy efficiency and the user experience within buildings. We are seeing tenant satisfaction improve while building operating costs are reduced, especially when tenants are actively engaged with controlling energy usage.

The Big Data generated by smart building systems is a major force shaping the human experience within buildings. Building data analytics provides unprecedented insight into energy use and facilities operations.

Today’s computer-controlled “smart” building systems can be programmed to accommodate the needs of building occupants. Lighting and temperature, for instance, can automatically adjust during peak and off-peak occupancy periods. Smart building technologies can be used to provide a more customized and energy-efficient experience for building users—think, better temperature, lighting or security control for offices, and more reliable power for manufacturing facilities.

In addition, these automated systems generate reams of data that a smart building management service can transmit to a remote data center for analysis by facilities professionals. Using predictive analytics, facilities managers can anticipate and address user needs and requests related to heating, ventilation, lighting, way-finding, security and more.

Affordable new technologies driving smart building progress

Recent significant price reductions in cloud computing-based building management technologies have made these systems affordable. For example, wireless sensors used in smart building managed services are now available for less than $10 per unit. These sensors can transmit data from smart systems in hundreds of buildings to far-flung remote cloud-computing platforms where advanced analytics can turn data into actionable intelligence to improve building performance.

Building occupants’ growing expectations

Smart buildings can boost tenant satisfaction and productivity, according to The Changing Face of Smart Buildings. Along with next-generation buildings comes a new generation of building occupants, with new workplace preferences and expectations for their work facilities. Companies increasingly rely on mobile workers, and smart buildings are able to adapt more readily to new flexible workplace models. Clean, green, efficient buildings are gaining a marketing advantage for landlords.

The trend for employees to connect from anywhere, or to bring their own devices to custom-fitted work settings, will profoundly change the way building owners lease space. Demand for more network sophistication that can adapt to changing work patterns will play to the advantage of smart building owners.

Smart buildings also can help companies use sustainability as a hook for engaging employees. In a major Empire State Building energy retrofit, for example, the project team added smart building components to the landmark office property. Real-time energy displays enable Empire State Building tenants to better monitor and control their energy consumption, and even compete with other tenants in the building to achieve energy savings.

Looking ahead is Fraunhofer CSE’s Building Technology Showcase in Boston that houses Fraunhofer’s building science research facilities, designed to consume half the energy of a comparable structure. In the lobby, an iPad-driven display shows the building’s internal smart building technology at work, with digital read-outs showing real-time energy gains in lighting, cooling and heating, water use and energy generation. It’s a simple but powerful idea that potentially could be applied in every smart building lobby.

Jones Lang LaSalle’s report, The Changing Face of Smart Buildings: The Op-Ex Advantage, provides a comprehensive, state-of-the-market view on smart buildings, providing the first multi-dimensional business case for smart technology investment. The full report can be downloaded here: http://bit.ly/HvhSx6

 

 

Source: NREI

/by

Miami’s Hot Market? Industrial Property

,

Condos may get all the publicity, but industrial space in Miami is hot again, with developers competing for land and tenants.

More than 4 million square feet of space is in the development pipeline. And land prices are reaching record level, attracting as much as $1 million per acre. The investment industry now considers Miami a tier 1 city, which is attracting more institutional investors, Steve Medwin, managing director for Jones Lang LaSalle South Florida told WPC News. “REITs, the life insurance companies, private equity firms, all have raised tremendous amount of capital for real estate… they want to have a location here,” Mr. Medwin said.

Several catalysts are driving the market, including the Panama Canal expansion, which will bring Panamax-class container ships to Miami’s port in 2015, as well as the growth of the economy in Latin America.   Developers delivered almost 300,000 square feet of warehouse and distribution space in Miami during the third quarter. An additional 733,737 square feet is currently under construction, according to CBRE. Another 3.9 million square feet of space is in the development pipeline.

The largest delivery during the third quarter was Building 1 in South Florida Logistics Center, adding 171,545 square feet to the area known as Airport/Doral. The South Florida Logistics Center will eventually add 1.6 million square feet of industrial space across 200 acres next to Miami International Airport.

net-absorption-cbre-research-q3-2013The popularity for land in Doral has pushed up prices for competing investors.  “Prices went from a $1 million an acre [before the recession], down to about $400,000 an acre in the bottom of 2009 in Doral, and are now back to about $750,000 an acre — if you can find it,” Mr. Medwin said.   The year-to-date net absorption of 794,356 square feet at the end of the third quarter already surpassed the total absorption for 2012. Starboard Cruise Services signed the largest lease — 220,000 square feet at the future Flagler Station Building 34, according to CBRE.

The vacancy rate for Miami’s industrial market is down to 4.9 percent, dropping 40 basis points from the previous quarter, and down 120 points from last year. Average asking rates were up to $7.81 per square foot during the third quarter, which is $0.43 per square foot higher than last year, CBRE reports.

The recent development has led to a glut of product in certain areas, which is helping to keep down prices, Mr. Medwin says. “We are seeing is a lot of speculative construction by these big institutions who were able to buy land in the last couple of years and they are all delivering around the same time,” Mr. Medwin said. “There are a number of choices so rental rates are staying low there, they’re not shooting through the roof.”

under-construction-and-completions-cbre-research-q3-2013The demand for Miami’s industrial product should continue to increase, analysts say. “Several sizable investments sales, both institutional and private, are expected to close during Q4 2013, resulting in a boost in sales volume,” CBRE said in the report.

Although land is predominately scarce, the city still offers potential for developers and investors, analysts say.   “It’s a supply constrained market, so there’s not a lot of land around,” Mr. Medwin said. “But there’s enough to build another 10 million to 20 million square feet, which is 5 to 10 percent of the base we already have in Miami, over the next 3 to 5 or 10 years.”

 

Source: World Property Channel

/by