Site Technologies Survey Finds CRE CapEx Planning Often Lacks Asset Condition Data

In a press release, Site Technologies shared survey findings from 166 commercial real estate professionals on capital expenditure planning and asset condition data. The report found that 29% of asset managers regularly rely on gut instinct or informal assessment, rather than formal condition data, for major capital planning decisions.

The survey found that 69% of respondents had faced capital expenditures that were higher than they would have been if maintenance had been addressed earlier. It also found that 35% reported cost increases of 25% or more due to delayed maintenance.

Unplanned spending was also common. The report said 63% of respondents had more than 10% of annual CapEx triggered by unplanned or emergency events, while 28% said more than a quarter of annual CapEx fell into that category.

The report also covered AI use in commercial real estate asset assessment. It said only 20% of respondents had fully implemented predictive analytics or condition monitoring across their portfolios, while 66% estimated that real time asset visibility would reduce unplanned capital expenditures by more than 10% each year.