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By Ryan Starr
Forget sending the intern out to the corner to count cars. Motionloft’s sensor technology gives retailers and building owners and managers a better way to measure and understand traffic patterns around their properties.
Motionloft, owned by Mark Cuban, uses computer vision software to recognize pedestrians, cyclists and cars, collecting data on their movement via a hardware sensor and HD camera. The info is transmitted in real time and aggregated hourly on an online dashboard.
The traffic insights can influence an office or retail property’s perceived sale value and/or lease rates and play a key role in negotiations.
By providing a steady stream of real-time data on the volume of people, cars and cyclists flowing through a particular area, Motionloft — a compact device that’s able to be mounted on light poles, windows or walls — can be a handy tool for CRE brokers looking to market and fill vacant retail and office spaces. “It supplies highly accurate and real-time property analytics, which is significant in an industry where the accuracy of such data traditionally has been questionable,” said Chris Garrison, Motionloft’s business development VP, who co-founded the firm six years ago. “Ultimately, this helps to close deals faster.”
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ABOUT: RYAN STARR
Ryan Starr is a Toronto-based writer who specializes in real estate and urban development. His work can be read in numerous trade and business publications including BISNOW, Toronto Star, Precedent Magazine and more.