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b"With Terry Story, 28-year veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Commercial Real Estate Technology
In this week's talk with veteran real estate agent Terry Story, we cover trends in commercial real estate technology and the technological forces driving change in commercial real estate, as well as questions about urban chickens and the hazards of pet ownership for home sellers and buyers.\\xa0 The conversation starts with an open-ended question from Steve about how new technology is impacting or leading new trends in commercial real estate.\\xa0 Terry affirms that technology is changing the game in a number of areas and begins an overview of these impacts by noting that many retailers are collecting data from their shopper\\u2019s cell phones when they are in the store.\\xa0 This data is used not only for marketing purposes but also to guide decision making about store locations and floor layouts.\\xa0 Retail brand apps that offer coupons and promotions have become an important marketing channel as well.\\xa0 Some apps customize offers based on consumer behavior in stores and online, and, on the back end, this data can again be used to inform future business decisions.
E-commerce Distribution Centers\\xa0
Terry brings up another trend where technology is affecting commercial real estate\\u2014the location of eCommerce distribution centers.\\xa0 The phenomenal growth of online shopping has led to new challenges on the industrial side of retailer strategy, namely how to build distribution facilities in closer proximity to major markets and transportation infrastructure like rail, trucks, freights, etc.\\xa0 Until recently, large eCommerce companies built distribution hubs outside of urban areas, where land, labor, and access to transportation resources are cheaper. In an era of same or next day shipping, when speed of delivery is a key competitive benchmark, distribution needs to migrate closer to customers. This shift is affecting commercial real estate demand and prices in formerly under-utilized industrial areas.
Micro-unit Apartments
Terry's final example of technology-driven change is the emergence of so-called \\u201cmicro-unit\\u201d apartments around 350-500 square feet.\\xa0 This trend is fueled by the high costs of urban living, and the apartments are generally priced for recent college grads, especially for those with expensive student loans. Many of these buildings are mixed use, with apartments situated above commercial property. While 350 square feet would feel claustrophobic to many, younger renters appear more willing to accept it as a tradeoff for living in hip urban areas.
Neighborhood Roosters
From today's grab bag of real estate questions, Steve picks a letter from someone living near a neighbor with a rooster. The poor guy seems to be on his last good nerve, what with the rooster starting his crowing before dawn.\\xa0 Steve asks Terry what this guy can do short of buying a gun to deal with the problem.\\xa0 Terry's first recommendation is to talk with the neighbor. If the neighbor is unsympathetic, check with the homeowners' association, if you have one.\\xa0 The association can lean on the rooster owner and will probably have the support of all the other neighbors as well.\\xa0 If you're not a member of an HOA, or if that fails to solve the problem, check in with the code enforcement division of your city. Most will have statutes against agricultural animals in urban or suburban areas, and if you bring a violation of these laws to their attention, they will force the rooster out of the neighborhood (or into a pot of soup, as the case may be).\\xa0 The last resort would be a lawsuit, but, of course, that's not ideal because of the cost, even when you know the law is on your side.
Pet Friendly\\xa0Real Estate
Finally, Steve segues to a question about pets and pet owners and the apparent increase in the number of pet owners ..."