Geospatial technology provides insights into today’s ever-changing landscape in commercial and residential real estate.
It’s important to stay on top of property inventory and the associated vacancy, rental, and absorption rates that help determine the best performing assets. Use location analytics to predict future returns on investment and allocate resources to properties that need reinvestment. Location analytics can also help you determine locations that need relocation or where you should make decisions to close or remodel underperforming establishments.
The use of multiple location-based data sources in the site selection process for commercial and industrial real estate development is crucial to understand the extent of catchment and trade areas. Whether it’s for retail sites, corporate offices, or industrial parks, establishing fair pricing for sales and rentals is important. Bringing in new datasets related to demographics and mobility data such as footfall traffic can be the difference between closing deals or losing them to your competitors.
Analytics is driving today’s property appraisals. Determining the highest and best use of land and its assets means understanding the shifting demographics of the local market over a longer period of time. Investments that are expected to return rental income over a 10-20 year period require advanced location analytics. And today, there are more data assets available to real estate managers that help to discern projected economic activity. In addition, mobility data is also making it possible to see these shifts in near real-time. Taken together, both historic and real-time location data provide powerful tools to estimate the long-term profitability of real estate. Take advantage of geospatial technology to see trends before they happen.
Between the years 2017 to 2020, e-commerce retailers’ shipping costs skyrocketed from almost $22 billion to a $40 billion, according to Financial Express. In addition, the COVID pandemic accelerated the usage of ecommerce platforms for delivery of essential goods and services. As a result, retailers such as Amazon and Walmart expanded delivery options thus creating a need for greater efficiency of last-mile delivery. In so doing, these and other retailers are converting some locations or acquiring additional land for warehouse and depot facilities to reduce their fleet delivery costs and to get closer to their customers.
Over the last ten years, many counties and municipalities have complicated taxing by adding in special purpose tax districts to collect additional taxes in very small geographies. This adds to the complexity of the existing layers of school, property and other local tax boundaries. In addition, with the rise of e-commerce, automated fulfillment and assigning the correct tax from goods purchased from retailers and manufacturers often varies state to state, or within each state or municipality. Make geospatial technology your essential tool when determining if taxes are being properly applied to products and services based upon updated tax boundaries.
“From detecting neighborhood trends to understanding consumer demographics, leverage our expertise today to help you make better data-driven investment decisions with the latest and greatest in location data and technologies.”
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