Commercial real estate owners and managers have a responsibility to ensure everyone’s safety. People should be able to park and enter your commercial real estate property without any discomfort or feeling threatened. After all, commercial real estate is the largest asset for companies.
The people responsible for security must be aware of commercial real estate’s unique needs to get the right security measures. This article delves into the key aspects of commercial property security threats and how to address them.
5 Security Threats in Commercial Real Estate
Commercial real estate managers are investing in the most current technologies to ensure the occupants have what they need to do business. But as with all technology, the more you have, the greater the risk for security vulnerabilities. Here are the top five security threats to commercial real estate.
1. Fails to update threat and risk assessment
A threat and risk assessment is not something to do just one time. Criminals adapt. Threats evolve. Every year, technology evolves. Security solutions are no exception. A risk assessment informs commercial real estate management what threats it faces and what it needs to do to address them.
This assessment can find and identify potential threats, vulnerabilities, digital risks, and physical security risks around the perimeter of the commercial real estate property. Be sure to include the parking lot as part of the assessment and security program.
Unless you have an experienced security professional in-house, it’s highly encouraged to bring in security consultants to perform the risk assessment. A detailed evaluation of the physical environment, cybersecurity infrastructure, access points, and security systems can help security professionals design a security plan that meets the needs of the commercial property.
The assessment can allow the organization to review what needs to be done and when. It may not be possible to implement everything. Ask the security professionals to help define risk metrics. That can provide decision-makers with information on how their risk mitigation strategies are working out.
Once again, an assessment isn’t something done once. It needs to be reviewed at least once on a yearly basis. That’s the only way to ensure you stay ahead of the new threats. The threat metrics and reassessment will show how well the security is working. The assessment can be revised as needed.
2. Relies on an access control system alone
An access control system is a must for most commercial real estate properties. This allows occupants to swipe their badge or use their phone to enter the parking lot and building. The most efficient security program contains multiple layers.
The problem with access control systems is that they can put the commercial real estate building at risk for tailgating and piggybacking. Tailgating is when an unauthorized person sneaks into the building by watching for an open door. Piggybacking occurs when the authorized person holds the door open for the unauthorized person.
This is why an access control system cannot be the only security. This is also why companies need to hold enterprise-wide security training. It can help reduce piggybacking and tailgating. Nonetheless, you can further lower your risk for these by adding video cameras.
3. Does not integrate security systems
Companies are consolidating many of their business processes and integrating them. That’s because there are a lot of efficiency and cost savings in the integration of security. This largely explains why integrated security is a fast-growing market.
In fact, it was worth close to $16 billion in 2021 according to Allied Market Research. They predict that it will be worth more than $55 billion by 2031. This shows that if companies want to compete and stay current, they need to invest in integrated security systems. The types of integrated security growing the fastest are identity and access management, compliance management, and theft management.
Integrated security systems can increase response time, boost efficiency, reduce security risks, and save on costs. These benefits come from streamlining reporting, processes, and workflows. Commercial real estate companies looking for security want integrated security systems that combine multiple elements into one solution.
What are the systems in an integrated security solution? They may have video cameras, an access control system, camera monitoring, intrusion detection, and other components. The seamless Integration of these helps centralize security oversight.
4. Overlooks scaling capabilities
Commercial real estate does not exist in a vacuum. It constantly changes as the environment affects operations, relocations, and expansions. Therefore, commercial real estate security systems must be able to scale and adapt to support their ever-changing requirements and needs.
The global physical security market topped $103 billion in 2021 per a report by MarketsandMarkets. Experts predict that will climb to almost $140 billion by 2026. Why the drastic increase? It’s due to the growing number of thefts, terrorist activities, and physical security breaches.
A commercial real estate company may have to drop a huge amount of money into a new security system if they have a security system that can’t scale. Therefore, they should invest in scalable security systems like video surveillance with remote monitoring. They provide long-term value and can be scaled up and down as needed. By investing in these scalable security systems, commercial real estate companies could avoid high prices associated with security overhauls and replacements as their security needs evolve.
Because of this, MarketsandMarkets has found the use of security cameras is rising. Much of it is attributed to advancements in video surveillance systems. They are flexible, scalable, and effortless to implement. They can be remotely accessed and managed.
5. Uses outdated reactive commercial real estate security
A video surveillance system can be reactive or proactive. Most commercial real estate companies still use outdated security systems that don’t catch crime or damage before it happens. What’s the difference between the two?
The difference is timing and deterrence. Proactive security systems can help spot a potential problem before anything occurs. This is possible with proactive security that includes real-time monitoring which takes advantage of the strengths of humans and technology. What makes this combination powerful is that trained monitoring operators working with video analytics can help spot dubious activities, potential threats, and anomalies early.
For example, it’s 2 AM. No one should be on a commercial real estate property. Video analytics can detect potential human movement and alert a monitoring operator. The monitoring operator can check it out and respond as needed to the situation.
Without video analytics, the human operator may have missed suspicious behavior. However, video analytics can’t be 100% sure. The operator can analyze the situation and respond accordingly. Every second counts. Moreover, the operators are located away from the commercial real estate property, so they’re safe and never worry about their lives.
Trained monitoring operators have multiple routes they can take to address the situation. They can issue a warning over an onsite speaker. If the suspects don’t hear the warning or ignore it, then the monitoring operator can call the police. Often, the police arrive on the commercial real estate property while the intruders are there. They may be able to arrest them before any damage occurs.
Remote video surveillance with live monitoring helps mitigate risk and reduce the costs associated with damage. Since this proactive approach can lead to containing security incidents quickly, it can also help avoid escalation and business disruption.
Commercial Real Estate Security That Tames Threats
Commercial real estate owners and property managers oversee a lot of activity. Some may be short-staffed and looking for ways to do more with less. They are likely not experts in security and don’t have time to deal with it. Yet, integrated security can be what they need to help cut costs and greatly enhance security.
There is an integrated security solution that does not add headcount. Yet, it can have eyes on multiple spots around your commercial real estate property at the same time. This solution can integrate security cameras, remote monitoring by humans and video analytics, an access control system, and an onsite speaker. If you have security guards, live video monitoring is a great way to enhance their effectiveness.
Of course, a commercial real estate property needs to consider other security measures. The more layers of security a property has, the harder it may be for crimes and damage to occur. These are mostly not technological measures such as smart landscaping, interior and exterior lighting, and fencing.
Be sure to evaluate the parking lot or parking garage. Many companies overlook this essential component. With catalytic converter thefts as well as break-and-grabs on the rise, thieves target areas with a lot of cars. If you have stairwells, be sure to get those evaluated too. They can make people feel unsafe.
The evolving needs of commercial real estate companies require a proactive and holistic approach to security. By conducting comprehensive assessments, complementing access control systems, integrating security systems, investing in scalable and flexible security technology, and opting for proactive video surveillance, they help protect their employees and assets while creating a more secure environment prepared to handle the growing number of threats.
The key is to find a security company with experience in integrating security for commercial real estate companies. They understand your pain points and how to close the security gaps.
Integrated security with video surveillance and remote monitoring offers other benefits such as using video recordings in marketing, training, and liability cases. This is why it’s essential to ask about the storage of recordings. How long does the company store them? Liability claims don’t always come in quickly.
When you choose ECAM as your security partner, you will work with a company that has experience in the commercial real estate industry. ECAM clients tend to see a return on their investment within months. You can check out the videos of security cameras with remote monitoring in action for commercial real estate properties.
Want to learn more about protecting your commercial real estate property? Pick up this guide on Security Systems 101. For more information about integrated security solutions for commercial real estate, please contact us.
