Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Augmented reality technology is rapidly growing. The technology can mean both opportunity and some potential problems for property owners, depending on how it is implemented. First, property managers are recommending that property owners for all commercial properties start including augmented reality provisions in lease terms. In the long run, though, augmented reality could prove to be a additional income stream.

“One thing that we are watching closely, and I think that we are one of the first firms that have it in our property management agreements is augmented reality, which I call the Pokemon Go theory,” Kevin Rude, director of real estate services at Colliers International, tells GlobeSt.com. “That is the next wave that is going to hit the Los Angeles and New York markets, first. I think that everyone needs to be prepared for that as well.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

More from this author


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.