It may take five years or fifty depending on who you ask, but there’s great potential for autonomous vehicles to radically disrupt and revolutionize the commercial real estate industry.
The relationship between property values and transportation is one of the most durable in human history. The first cities grew up along waterways, railways, and roads. Then Henry Ford’s Model T paved the way for the suburbs. Tomorrow, driverless cars could usher in a similarly monumental shift in how we use real estate.
Yet from Uber’s fatal driverless crash to an uncertain regulatory future, these changes are not set in stone. Autonomous vehicles still have a long way to go, and most experts predict widespread consumer adoption is at least a decade away.
Despite the setbacks, technological advances and growing levels of investment make the driverless future more and more likely. From opening periphery neighborhoods to revolutionizing retail, here are four ways autonomous vehicles could rewrite the laws of commercial real estate.