Tuesday, February 6, 2018

A Driverless Future Threatens the Laws of Real Estate - Bloomberg

A Driverless Future Threatens the Laws of Real Estate - Bloomberg



...Google parent Alphabet Inc. has imagined such a world in an autonomous-only future.

Sidewalks Labs, Alphabet’s urban-development unit, is designing a district in Toronto’s eastern waterfront that could be among the first fully driverless neighborhoods.
...Truckers’ adoption of self-driving vehicles could have a big impact on industrial land values, according to Bill Page, business space research manager at Legal & General Group Plc’s investment-management unit.
In the U.K., areas that have been most popular for delivery companies, like the so-called golden triangle in center of the country, may take a hit since there will no longer be limits on drivers’ shifts. Companies such as Amazon.com have to set up in the area, which is uniquely within a single shift drive from most everywhere in Britain, pushing up rents for warehouses in the region....
...“In the U.S., an entire network of truck stops, motels and gas stations could fall in value if vehicles no longer need drivers.”...
...“You see it in the retail space—there’s death and destruction in the U.S. on something that’s been known forever but is finally coming home to roost.”

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