The turbulence in the economy, in spite of extraordinary resilience, has dominated the media. Commercial property is an economic derivative, and, accordingly, is impacted by the macro trends. Performance is also property by property, and the bottom line is dependent upon micro trends. Like the weather, climate change, and innovation. All subject to change, and the stewards of the built environment must be nimble, must be quick.
AI with caution, and ubiquitous dependable Wi-Fi with a vengeance. Wi-Fi is the telephone, television, radio, movies, large screen live entertainment. Wi-Fi is the schoolhouse, church, hospital, shopping, employment. Zoom, social media and everything to go! All on line. Remember nature, climate readiness. Wellness and wellbeing. Manage, maintain and market the built environment professionally. Yes. Constituencies want and need a better place to live and work. Investors and insurers expect the same in underwriting the risks and rewards in commercial property and commercial property capital markets.
Getting on the horse. The game is on.
Not just a plan to repair, refit, release. Restart with vigor, the advance, clear and effective action. Hard and soft stuff, with and without a price tag. High-speed Wi-Fi has a price; tech-savvy personnel onsite does, too. Outdoor and street furniture have a price. Trees and plants, not so much. All make the built environment more user-friendly. Perform better.
Progress, working capital, priorities and training are ways forward, and measurable investment qualities. Looking good and operating better. Make a pivot to compete, demonstrate adaptation, flexibility, action without disturbance. Try harder, be better.
The bench makes a difference. Flowers and blooming bushes, herbs, grasses and succulents. Grow a tree. Build a shelter, a gazebo, a pergola, an arbor. A bar for stretching, hanging, swinging. Everyplace, an overlook or view corridor. Offer energy to light and charge the life around.
Signage without letters or imposition, enforcement. Help and guidance. Thoughtfulness. Ombudspersons. AI helps, supports, lifts the property. Carefully. Anymore than a rock in the road, a puddle in the path. A bridge at the gully, a swinging gate at the stop, look and listen.
Mind as the master. Be a follower as well as a chief. Predictability, not just change and upgrades. Balance. Common behaviors, language. Nature’s way. And better. We take away and put back. Laws are fences, borders, signs. Be selective.
What you want, what they need, and vice versa, in between, clean and comfortable, changing with respect and without disruption. Dependable high speed Wi-Fi! Wirelessness! Got it? If not, get it!
What’s best for the New Year. 2024 is here!
David Kirk is founder, chief executive officer of Kirk & Co., Boston, Mass.