Drones are making headlines. Amazon.com is using them to deliver products. The military is using drones to spy out the land.
ORLANDO—Drones are making headlines. Amazon.com is using them to deliver products. The military is using drones to spy out the land. And the commercial real estate industry is getting into the drone mix.
According to the Association of Unmanned Vehicle Systems International, in the first three years of drone integration more than 70,000 jobs will be created in the United States with an economic impact of more than $13.6 billion. This benefit, the group association says, will grow through 2025 when we foresee more than 100,000 jobs created and economic impact of $82 billion.
We turned to Wilson McDowell, a managing director and principal on Cite's Central Florida industrial team, to get his thoughts on how drones are impacting commercial real estate. How practical is it to use drones?
GlobeSt.com: How are drones impacting commercial real estate?
McDowell: Drones are being used to capture unique view of property that were typically reserved for only larger properties, that would warrant paying a helicopter to get aerial shots of the property. It allows people to view properties in their entirety even when they are not local. You can get a very good idea of a property touring it with a drone and sending the videos to prospects.
GlobeSt.com: How practical is it to use drones?
McDowell: We don't use drones on every property, however for larger assignments, we believe that helps the prospect get a better understanding of the benefits of a property.
GlobeSt.com: What are the benefits of using drones?
McDowell: You can capture unique shots of the property and allows people outside of the area, to be able to get a 360' view of the property from their office.
GlobeSt.com: What is the ROI of using drones?
McDowell: It is hard to measure the ROI of using drones, however we have received compliments from owners and prospects that view our drone property videos. It is a marketing tool for the property that keep the property front of mind.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
