Abstract
As real estate providers seek to recover from the COVID-19 pandemic’s impact on their tenants’ businesses — and, by association, their own — a serious question has to be asked: to drive the next wave of value, will the new normal require a change in the landlord–tenant relationship? This paper argues that the answer is yes. It requires a change from the legacy real estate mindset of cost control and reducing expenditure per square foot, to one of increasing value per square foot. Landlords can make use of a number of critical technologies to pave the way to this next wave of value creation across their portfolios: the Internet of Things (IoT), 5G and digital tenant services. This paper explores the use of these technologies, their benefits, what is required to precipitate a change in the relationship with tenants and how this will shape future operating models.
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