U.S. glass-manufacturing company View recently announced it has entered into a strategic agreement with RXR Realty to combine RXR?s WorxWell data analytics platform into its broader technology stack.
Formerly known as RxWell, WorxWell?s data analytics platform aggregates all building data including occupancy, space usage, digital collaboration and work patterns, access control, air quality, temperature, and environmental factors into a consolidated dashboard to optimize every aspect of building operations and workplace experience for both building owners and occupiers. It also offers tools and mobile apps that put employee health and safety, security, space utilization, hybrid work analyses, employee experience and engagement, ESG optimization and compliance, operational information, and more in the hands of building managers and tenants, according to the company. WorxWell is currently deployed in 25 million square feet of office buildings.
The acquisition of WorxWell enables View to provide an integrated, end-to-end technology and product stack that seamlessly brings together software, sensors, and data from View and third parties, into a unified platform, so real estate owners and enterprise customers can use data to effectively respond to changing trends in real estate, such as hybrid work, health and wellness, and sustainability.
?Real estate owners and tenants are embracing technology to deliver better occupant experiences, improved health, lower carbon emissions, and superior business outcomes,? said Rao Mulpuri, CEO of View. ?We are excited to partner with RXR to bring together the best of both companies ? RXR?s real estate expertise and tenant insights and View?s deep technology and product development expertise ? to make buildings healthier, more energy efficient, more adaptable to user needs, and lower cost to operate.?
?View has built the industry?s most comprehensive technology stack to drive the digital transformation of real estate. We created WorxWell to re-invent the office experience and we see this partnership with View as the fastest way to take the product to the next level and ensure that our buildings and customers will always have the latest and greatest technological advances,? said Scott Rechler, Chairman and CEO of RXR Realty. ?Working together with View, we will combine our in-depth knowledge of the space with real-time tenant feedback to keep WorxWell on the vanguard of creating transformational experiences for our customers and driving the digitization of real estate.?
The RXR platform manages 73 commercial real estate properties and investments with an aggregate gross asset value of $21.0 billion, comprising approximately 26.8 million square feet of commercial properties, a multi-family residential portfolio of approximately 4,200 units under operation or development, and control of development rights for an additional approximately 2,900 multi-family and for sale units as of June 30, 2021.
This transaction follows View?s acquisition earlier this year of IoTium, a provider of secure, cloud-managed, software-defined IoT networks.
View is installed and designed into 90 million square feet of buildings including offices, hospitals, airports, educational facilities, hotels and multi-family residences.