Commercial real estate risk assessment of site technologies is a screenshot of devices.
Courtesy of site technologies
A version of this article first appeared in the CNBC property play newsletter with Diana Olik. Property Play includes new and developed opportunities for real estate investors, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up To achieve future versions, directly into your inbox.
The first storm of the 2025 Atlantic season is exiting the eastern coast, and it is sure to be more in view. The season after the season produces a more intense storm, resulting in expensive damage, the managers of facilities in commercial real estate are giving priority to property flexibility.
One of the methods of doing this is through technology. Structs have already been made to combat the risk of wildfire: companies such as pano AI, satalitics and adash are involved in satellite techniques with artificial intelligence to indicate especially with major electric companies as clients as clients.
And similar progression is working to reduce the risk of storm damage: site technologies appoint drones to help managers of commercial real estate facilities see where the weaknesses are in their properties and address them before those storms are hit. The site was originally a construction company.
“We worked closely with our team of experts and engineers in pavements and roofs and aspects and landscaps, and we started finding out how we need to be able to capture data from facilities to be able to do engineering work and are able to review the current conditions of properties,” Austin Rabin, Site CEO said.
The site does not have its own drones, but uses freelancers across the country. Rabin says that the company has surveyed about 13,000 properties in 15 separate countries and deploys drones on an annual basis for large customers that have hundreds or thousands of facilities.
Once captured images can be fed in the artificial intelligence platform of the site that incorporates expertise from its own employees and provides status and risk reports for the exterior of each feature.
“We also recognize how they should spend their money in the next three to five years to ensure that their convenience is in good condition.” “So we make scope of work and status report using AI, and then we have a lot of dashboarding characteristics that allow them to be sorted by their worst qualities or their highest risk properties so that they are able to focus on their highest needs.”
This allows managers of future maintenance property and facilities to see issues before liabilities. All this is uprooted from closed drains to weak roofs.
For existing customers, the site offers to fly a drone on properties after any disastrous event occurs. Images can then be used before and after assessment of insurance claims.
The customers of the site include prologice, a major warehouse Real Estate Investment Trust, as well as link logistics and large national retailers. Most customers will have at least 100 properties, as companies with small real estate foot scars can use human surveyors more easily.
“When you have hundreds or thousands of assets, it was not really a viable option that you were able to get Snapshot, on an annual basis of your features,” Rabin said.
