Originally published on NAIOP.org | Oct. 20, 2020
–The built environment is experiencing an unparalleled automated revolution across all commercial real estate asset classes, according to “The Evolution of the Warehouse: Trends in Technology, Design, Development and Delivery,” a new report published by the NAIOP Research Foundation.
The report was authored by Steve Weikal, Head of Industry Relations at MIT/CRE and CRE Tech lead, MIT Real Estate Innovation Lab, and James Robert Scott, Lead Researcher, MIT Real Estate Innovation Lab.
Advancements in technology and the adoption of new applications for data analytics, ubiquitous sensors, artificial intelligence and autonomous vehicles are improving productivity and allowing for more efficient use of space, according to the report. Warehouse and distribution properties will benefit considerably from these changes.
Industrial real estate will continue to be reconfigured as a new wave of innovation responds to growing consumer demand for fast product delivery, rising land and labor costs, and the increasing complexity of logistics systems. Supply chains and the buildings on which they rely are becoming increasingly interwoven within the everyday life of cities. Technological innovation is contributing to and accelerating each of these trends.