3 Important Security Concerns Associated with Commercial Real Estate

There are security concerns associated with anything related to money. The same goes for the commercial real estate industry. These include threats to physical safety, vulnerabilities to cyberattacks, and factors related to the economy and society.

It's important to tackle these challenges to keep investors and leaseholders secure. Let’s see what Terra Alma’s expert real estate advisors in Atlanta say about it.

Table of Contents

-         Physical Security Concerns

-         Socio-Economic Concerns

-         Cybersecurity Concerns

1. Physical Security Concerns

i. Break-ins and vandalism

Commercial properties, especially vacant ones or those under construction, are often targeted for theft and vandalism.

ii. Criminal activities

High-profile commercial buildings may be potential targets for criminal activities, although the chances are low, the impact can be severe. You may also end up facing legal departments if you ignore physical security.

iii. Natural disasters

Atlanta's location puts it at risk of natural disasters like thunderstorms, including damaging winds, tornadoes, large hail, flooding, and flash flooding, and winter storms associated with freezing rain, sleet, snow, and strong winds. Commercial buildings need to be constructed and maintained to face such events.

Recommendations

i.        Take important security measures such as surveillance cameras, alarms, and patrols.

ii.      Secure vacant property with locked gates and regularly inspect to prevent unauthorized access.

iii.   Consider hiring a security company for under-construction property protection.

iv.    Hire an expert commercial real estate advisor like Terra Alma in Atlanta.

2. Socio-Economic Concerns

i. Protests and Civil Unrest

Commercial properties can attract protests, particularly those linked to controversial projects. These situations may lead to property damage or disruptions to business operations.

ii. Economic Fluctuations

During economic downturns, vacancy rates in commercial real estate can rise, making them more vulnerable to security threats like squatting or unauthorized use.

iii. Supply Chain Issues

Recent global events have highlighted the vulnerability of supply chains. Disruptions in the supply chain can cause delays in development projects, leaving properties vulnerable for longer periods.

Recommendations

i.        Work closely with law enforcement and community leaders to stay informed and coordinate responses to potential threats.

ii.      Conduct regular risk assessments considering evolving threats.

iii.   Develop a public relations strategy for properties facing potential controversy to manage public sentiment and associated risks effectively.

iv.    Consider professional commercial real estate advisory services from a reputable firm like Terra Alma in Atlanta.

3. Cybersecurity Concerns

i. IoT Devices

The growing use of Internet of Things (IoT) devices in commercial infrastructure creates multiple potential entry points for cyber attackers if not adequately secured.

ii. Data Breaches

Real estate companies manage sensitive data, including information on financial transactions. Data breaches can result in substantial financial and reputational damage.

iii. Building Management Systems (BMS)

Modern commercial real estate frequently relies on Building Management Systems (BMS) for tasks e.g., climate control and security. However, cyber-attackers may attack these systems if they aren't properly secured. Resulting in risks to building safety and occupants.

Recommendations

i.        Conduct Regular cybersecurity audits to identify system vulnerabilities.

ii.      Provide comprehensive training to all employees on recognizing and mitigating cyber threats, particularly phishing attempts.

iii.   Segment the network to enhance security by limiting access. So, even if one part is breached, the entire system remains protected.

iv.    Utilize two-factor authentication (2FA) across all systems for an additional layer of security.

v.      Ensure third-party vendors adhere to strict cybersecurity protocols.

If you have specific concerns about your commercial real estate contact Terra Alma directly for professional commercial real estate advisory in Atlanta.

In Conclusion

Commercial real estate has security concerns like break-ins, cyberattacks, and natural disasters. To keep properties safe, use cameras and alarms, and hire security for vacant or under-construction buildings.

Work with police and community leaders to manage protests and economic changes. Protect data and systems by regular cybersecurity checks, training employees, and using strong passwords.

Contact Terra Alma in Atlanta for expert commercial real estate advisory.