Boosting NOI with building tech, 5G, rooftop leasing and wi-fi networking
A strategic approach to managing building technology can increase revenue, reduce cost and risk, and improve tenant experience. With Bob Geiger, Partner Engineering and Science.
Key highlights and tech include:
Rooftop leasing: Rooftop space may already be leased to a cellular provider. Is that provider paying the best market rate? Can the roof accommodate multiple carriers? Is the building owner or agent equipped to effectively negotiate with carriers? What about solar rooftop leasing?
5G opportunities: 5G wireless technology requires a vast increase in cell sites. Cell sites must be under 150 feet, so a high rise is not necessary to attract carriers. As 5G networks expand, the opportunity for real estate owners is lucrative.
Wi-Fi network offerings: A centralized, secure Wi-Fi network that is accessible throughout the entire property allows the owner to improve tenant experience and charge a small technology premium. Add a cell signal booster capability and these amenities can be further monetized by collecting revenues from cell carriers. Many CRE owners miss this opportunity to provide better amenities to their tenants while leveraging their position as gatekeeper to Internet service providers.
Fiber management/wholesale access: Consider the possibilities of having a fiber-based infrastructure running through the entire property that can provide as much as 1,000 Mbps of speed to each residential or commercial tenants. Including an HDTV streaming option to superfast Internet could be cheaper than the price tenants could procure on their own. These types of connectivity packages can generate a substantial amount of revenue, improve tenant experience, make the building move-in ready, and help differentiate the property from its competition.
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First published in NAREIM Dialogues Spring 2021, published in association with IREI.