Commercial real estate investors in Ohio may be aware that the commercial real estate industry contains technology gaps. A growing number of tech startups are looking to fill the need for online investment platforms and real estate software programs in order to make commercial real estate investing easier and more up to date.
Recently, software solutions companies Hightower and VTS announced that they would be completing a $300 million merger. The combined company, to be called VTS, will offer sales and lease management solutions for real estate professionals and property owners. Meanwhile, CBRE has acquired a real estate technology company called Floored that assists hospitality and real estate professionals by proving interactive 3D graphics.
Real estate technology companies are also looking to provide services to prospective tenants and real estate buyers. A company called 42Floors has created an online platform that allows business owners to search for available office space all over the country. Another startup called SquareFoot offers a similar office space database while also providing customers with assistance during the entire leasing process. Business owners and investors that do not have time to view a space in person can take advantage of new 3D programs that allow them to explore properties' interiors through virtual reality.
With so many startups offering new tech solutions, commercial real estate investors have lots of options, so the process may seem much simpler than it used to be. However, commercial real estate investing is still a complex process, and an investor may want to get assistance from an attorney during any real estate transaction. A lawyer can help to negotiate sale or lease terms and make sure there are no hidden problems with a particular property.