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From Imagination to Reality: How 3D Models Are Changing The Game in CRE

The future of the industry is bright for those who are ready to innovate and adapt. 

The Shift to Early Marketing

The real estate industry is experiencing a shift in pre-leasing strategies due to pressures from challenging capital markets, rising construction costs, and stringent city regulations. 

Developers now prefer to gain market feedback early rather than keeping projects secret from potential competitors. Fully pre-leasing a site before breaking ground mitigates risk, requiring better tools to excite tenants and communicate future potential. Extended pre-leasing periods necessitate tools that facilitate discussions about site layout and development phases.

New Tools Changing the Landscape

Traditionally, architects were the primary solution for conveying development visions through renderings and site plans, a process that was both lengthy and expensive. However, 3D models superimposed into drone footage now provide a cost-effective and efficient alternative. 

These models blend current site conditions with future potential, offering a comprehensive and realistic view. The affordability and speed of producing realistic 3D models allow stakeholders to visualize a site’s full potential, making the future more tangible than ever.

Legal and Practical Applications

Negligence lawsuits are common in commercial real estate, often stemming from unmet expectations or oversights. 3D models can mitigate these risks by providing clear visual representations of planned developments alongside actual site conditions. This transparency benefits all parties involved, including lawyers, landlords, and city planners.

For landlords facing significant vacancies or below-market rents, 3D models enable the evaluation of different tenant mixes and redevelopment needs without committing to costly architectural services. This approach allows for market testing and decision-making with minimal risk and expense. While basic architectural services can cost around $30,000, effective 3D model videos can be produced for as low as $1,700.’

Broader Applications

Beyond pre-leasing, the combination of 3D models and drone footage has numerous applications, including legal matters, landlord decision-making, and city planning. Cities can use these tools to visually demonstrate the benefits of redevelopment to investors, policymakers, and the community, making complex projects more understandable and engaging.

Landlords can leverage this technology to pivot strategies based on market interest, reducing risk and costs. The ability to show, rather than tell, the potential of a site is a powerful tool in the competitive landscape of commercial real estate.

Embracing Innovation for Success

The reduction in cost and turnaround time, along with dramatic increases in quality for 3D modeling tools is a welcome advancement in commercial real estate. The future of the industry is bright for those who are ready to innovate and adapt. 

Understanding trends, anticipating changes, and being proactive in strategy and execution are keys to thriving in this evolving market. As we move forward, those who can harness these technological shifts will not only survive, but thrive.

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As we integrate with VidTech, you will be redirected to the VidTech website where you can discover a broader range of solutions and services. We thank you for your continued support and look forward to serving you with an expanded portfolio.

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