JPMorganChase Tower at 270 Park in New York is equipped with over 100,000 sensors. You may not see them, but you feel their impact.
For example, window shades adjust automatically based on occupancy levels to minimize environmental impact, while daylight sensors in open office areas create a base level of light with no manual switches necessary.
The sensors are part of a comprehensive building automation system (BAS) designed to maximize comfort, sustainability and security.
The firm’s global headquarters isn’t the only place using building automation. Like other types of proptech, building automation systems continue to gain adoption across commercial real estate sectors, including multifamily, mixed-use, retail, industrial and office properties. Find out more about building automation and how to incorporate it into your properties.
A building automation system is a centralized network that monitors and controls property-wide infrastructure, including mechanical, security and HVAC systems.
Building automation systems generally include several components:
Building automation systems can help commercial real estate owners and operators:
“Building automation systems give real-time data, which leads to a more results-driven model and a more proactive approach,” said Richard Patapoff, Head of Proptech Solutions, Commercial Banking at J.P. Morgan.
“Cost savings aren’t just experienced in lower utilities, equipment longevity or less downtime—BAS can improve the entire operating model,” he said. “These systems are critical for centralizing maintenance and better managing service providers—both of which can lead to improvements in expenses and performance.”
Successful building automation implementation involves strategic planning to ensure systems align with your building’s needs and long-term goals. Consider these key factors:
The bottom line: The use of building automation systems will likely increase in the coming years, with benefits such as lower costs, increased energy efficiency and improved occupant comfort outweighing drawbacks. Before implementing a system, make sure to evaluate upfront costs, integration with current systems and cybersecurity measures.
Building automation isn’t the only way to make operations more efficient. Find out how real estate as a service (REaaS) can help you gain a competitive edge.
JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/commercial-banking/legal-disclaimer for disclosures and disclaimers related to this content.