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Corporate Real Estate Journal
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     ISSN (Print) 2043-9156 - ISSN (Online) 2043-9148
     Published by Henry Stewart Publications Homepage  [18 journals]
  • A glimpse into the future: How smart buildings are changing corporate real
           estate
    • Abstract: Smart-building technologies are having a growing impact on corporate real estate. As workplace strategies and the built environment change, corporate real estate executives must understand the benefits and cost impact of smart-building solutions. This paper will arm corporate real estate executives with examples, strategies and tactics that they can put into practice to yield beneficial results in their real estate portfolios.
      Content Type Journal Article
      Category Papers
      Pages 89-96

      Authors
      Dan Probst
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:39 GMT
       
  • An overview of steps and tools for the corporate real estate strategy
           alignment process
    • Abstract: Strategic thinking is a continuous process, alternating between thinking, planning and evaluating. Corporate real estate management (CREM) practitioners need to align their strategy and activities with corporate strategy during the entire process that the organisation goes through. Along the way, many different issues need to be considered, and the right tools used to make the right decisions. This paper aims to provide an overview of the strategic thinking process, and to identify important steps to take, and possible tools to use when taking them. First, strategic thinking is discussed and where CREM should start alignment. Then, CREM literature on the activities of CRE managers and possible tools is assigned to the different steps of the alignment process. Finally, an overview is created for CREM in practice to improve strategic thinking and alignment. CREM research has identified and created many tools for CREM practitioners to use to work towards alignment. However, an overview of how to proceed with alignment during the entire strategic thinking process was lacking. This paper contains a first attempt at such an overview. This overview of steps and tools to reach alignment could be used by CREM practitioners to discuss alignment with general management. Hopefully, this will help with receiving more strategic attention and the promotion of CREM departments as strategists in CREM's evolution. Studies on alignment of CREM with corporate strategy tend to focus on one phase of the alignment (either initial alignment or performance management). This paper extends the alignment strategy from initial alignment towards implementation and evaluation, covering the whole process while also providing an overview of existing tools and methods to use.
      Content Type Journal Article
      Category Papers
      Pages 44-61

      Authors
      Rianne Appel-Meulenbroek
      Barry Haynes
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:38 GMT
       
  • Sustainable business strategies: FM's impact on a company's targets
    • Abstract: Sustainability is a major topic for the real estate industry, but the impact of facilities management (FM) on a company's objectives is still not clear. Due to the fact that decision makers have little time to concentrate on details, a system was developed to link FM contributions to company targets. This system makes it possible to allow a non-technical client to understand the produced effort and recognise the usage for their portfolio. As a result, it leads to a sustainability strategy, which comprises both business targets and the contribution of secondary processes.
      Content Type Journal Article
      Category Papers
      Pages 81-88

      Authors
      Guido Hardkop
      Thomas Häusser
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:38 GMT
       
  • Portfolio performance metrics: The rationale and methodologies
    • Abstract: As strategic changes on the real estate landscape evolve through greater institutional consolidation, securitisation and focus on core business, corporate real estate departments find themselves caught up in the wake of this transformation.One of the more pronounced trends concerns the occupancy status of large organisations. ln particular, there has been a gradual move away from portfolios that consist of owned assets to those that are primarily leased. Such migration in ownership positions also forces corporate real estate departments to reassess how their performance is evaluated. Under the previous construct, rental income from third party tenants provided one of the key benchmarks of how this was measured, but as assets are sold and possibly leased back, what are the indicators that now demonstrate how well a corporate real estate department is performing? This paper discusses the emerging importance of performance metrics that provide logical and repeatable benchmarks that can be used to evaluate, set targets and strategise leased portfolios.
      Content Type Journal Article
      Category Comment
      Pages 20-25

      Authors
      Tony Gill
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:38 GMT
       
  • Solutions for managing an international corporate real estate portfolio
    • Abstract: What are the challenges in managing an international corporate real estate (CRE) portfolio, and how can they be overcome? This paper notes the importance of development of a system of measurement that differentiates objectives and takes into account the varying operating environment conditions in different countries. It identifies principal risks in management of an international CRE portfolio and summarises three methods to reduce their influence. The approaches could be used as effective tools for providing better management of an international CRE portfolio and increasing shareholder value. The paper discusses application of each method and its benefits and disadvantages. Each method could be applied individually or as a combination of two or three, depending on an assessment of the company and its goals. In this way, each interested company could choose the best approach, depending on its portfolio and business strategy. In an uncertain climate, with increasing competition due to globalisation, the CRE property portfolio has to become more relevant to a company's business activity and shareholder value in order for the company to survive.
      Content Type Journal Article
      Category Papers
      Pages 62-69

      Authors
      Petar Andonov
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:38 GMT
       
  • Editorial
    • Abstract: Editorial
      Content Type Journal Article
      Category Editorial
      Pages 4-5

      Authors
      Thomas Glatte, Dr
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:38 GMT
       
  • International manufacturing site selection (Part II): A case study
    • Abstract: This paper is based on a preceding paper that analysed methods used for the evaluation of sites as part of location strategies for corporations (‘International manufacturing site selection (Part I): A comprehensive site analysis model’). Therein a comprehensive model for the analysis of manufacturing sites was developed and explained in detail. The internationally applicable model consists of ten phases and requires stepwise application of specific evaluation models. This paper now aims to show application of the methodology on the basis of a case study. It is the aim of this paper to provide proof and support for the comprehensive methodology, and to seek understanding of the challenges attached to site selection processes.
      Content Type Journal Article
      Category Papers
      Pages 26-43

      Authors
      Thomas Glatte
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:38 GMT
       
  • People, space and technology: A dynamic model
    • Abstract: Several models show the relationship between people, space and technology (PST) in organisations, particularly within the realm of workplace design; however, they fail to properly capture the dynamic nature of such relationships and the impacts of change processes. The purpose of this paper is to propose a dynamic PST model. A comprehensive evaluation of existing PST models and insights, derived from a PhD dissertation, was used to inform a model that more appropriately reflects the intrinsic nature of each of the associated elements. Literature from material behaviour and diffusion of innovation theory contributed to the model. The proposed dynamic PST model maintains the three chief elements — people, space and technology — but adds an extra axis — time — to reflect the dynamicity of change. A derived outcome of this model is the incorporation of management as an integral and essential analogous visco-elastic ingredient in PST change processes. The analogy adopts concepts relating to the physical properties of materials and applies them to the model dynamics. A nomenclature of management ‘geometries’ is proposed. Important implications for management, in terms of the stressors and strain effects of PST change, are highlighted. The model is theoretical and yet to be tested. Early attempts to use commercially available software to develop a working model are discussed. Future research would tell how far the modelling could be extended in terms of developing reliable metrics for the management variables and representing them in organisational ecologies. The paper contributes to theoretical knowledge of workplace design, reflecting the dynamic nature of organisations and allowing visualisation of abstract organisational concepts. The model is expected to create a common platform for collaboration between human resources and information technology departments, as well as property and facilities managers and architects.
      Content Type Journal Article
      Category Papers
      Pages 70-80

      Authors
      Agustin Chevez
      Guillermo Aranda-Mena
      Peter Edwards
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:38 GMT
       
  • CRE's evolution since 2000: Impacts of technology, or is the CRE
           director's job being diminished?
    • Abstract: Y2K, the dot.com bubble, 9/11, the housing and sub-prime bubbles, globalisation, climate change, the global financial crisis: how has the role of corporate real estate (CRE) changed since 2000? This paper explores what is different and what are the constants in CRE as an industry, focusing on the impacts of technology on the workplace. It reflects the author's perspective of CRE from inside corporate America, the classroom and the boardroom. This paper concludes that what is changing is the pace at which technology impacts the workplace. The constants are that change is hard, the same industries tend to lead and leverage workplace innovation (technology and consultancy firms, financial and insurance services, telecommunications companies, etc), but many corporations still do not track foundational data about their real estate assets to enable CRE to add value on a tactical level, much less strategic value. The need for agility remains the overarching theme — agility in the way that the workplace is thought of and designed, and agility in the mindset with which one approaches CRE. The paper draws parallels between some of the pressures and opportunities that CRE and information technology face related to the evolution of their respective roles since the turn of the century.
      Content Type Journal Article
      Category Comment
      Pages 6-19

      Authors
      Margaret Latshaw
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 4
      Journal Issue Volume 4, Number 1 / Autumn/Fall 2014
      PubDate: Fri, 10 Oct 2014 14:02:38 GMT
       
  • Better data, better CRE cost-savings
    • Abstract: Expanding on papers previously published in the Corporate Real Estate Journal (November 2010 and October 2012), CEO Wales and one of his firm's senior consultants are looking ahead at the next tier of savings that can be leveraged in commercial real estate primarily through technology. From ‘bringing corporate real estate business models into the 21st century’ to seeing ‘promising transformation’, the authors now discuss emerging efficiency opportunities, with major corporations taking a leadership role in cost reductions and savings. Much of the future's promise is resulting from innovative real estate and workplace technology systems that have provided an excellent foundation of better lease data, improved asset management through targeted data analysis, better management of space utilisation and enhanced utilisation of mobile work programmes through better technology and people tracking. On an ongoing basis, greater and more refined data allow for more macro analytics that, in turn, lets CRE drill down to discover more granular opportunities.
      Content Type Journal Article
      Category Papers
      Pages 349-356

      Authors
      Phil Wales
      Steven McKissick
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 4 / Summer 2014
      PubDate: Fri, 08 Aug 2014 14:11:46 GMT
       
  • Trust me! Exploratory research into office design and organisational trust
           causality
    • Abstract: Swinburne University of Technology, Geyer and The Great Place to Work (GPTW) undertook a research project in 2012–13 in Australia that aimed to test causality between workplace design and organisational trust. The motivation behind the research was to identify what aspects, if any, of workplace design could influence the level of trust between employees and the organisation for which they work. Organisational trust literature suggests that low levels of trust increase transaction costs, persuade employees to work towards individual goals rather than collective ones and dismiss organisational authority. These are serious concerns for business leaders. The global financial crisis along with corporate misbehaviour have exacerbated the issue, bringing organisational trust to the forefront of many business leaders’ agendas. This study suggests causality between workplace design and organisational trust cannot be claimed. Nevertheless, the enquiring process produced important insights that increase an understanding of how the physical environment impacts trust and the role that workplace design plays in it. Results are discussed within the context of (1) space and time flexibility; (2) quality and size of space as a hierarchical currency; and (3) leadership.
      Content Type Journal Article
      Category Papers
      Pages 334-348

      Authors
      Agustin Chevez
      Laurie Aznavoorian
      Alanya Drummond
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 4 / Summer 2014
      PubDate: Fri, 08 Aug 2014 14:11:45 GMT
       
  • Embracing the nexus of forces for increased performance and cost reduction
    • Abstract: The digital era has ushered in a powerful phenomenon that has blown open the doors of the traditional office building and has taken the workplace with it to anywhere business activities are being carried out. It has bypassed the IT department with their control of hardware and software and quieted the hum of their servers in their huge data centres. It has perplexed the HR department who face a new workforce which is used to blurring the lines between their work and private lives making traditional policies and procedures no longer relevant. Now the digital era has ushered in the Nexus of Forces (the convergence of mobility, cloud computing, big data/analytics, social media and the Internet of Everything) is changing the world of corporate real estate (CRE) and facility management (FM) like nothing has before.This article introduces the Nexus of Forces (NOF) phenomenon and explain why it presents one of the biggest opportunities for our profession to embrace these new technologies and truly lead the development of one of the most exciting aspects of the business world today. This is the redefinition of the planning, design, management and utilization of the workplace. New roles are being added to CRE/FM staffs and new skill sets are required for the maximum performance of these professionals. Therefore, new courses must be added to all layers of our education system from grade schools through graduate programs to enable this to become as powerful force as it can be, as predicted in this article.
      Content Type Journal Article
      Category Papers
      Pages 307-321

      Authors
      Nancy Johnson Sanquist
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 4 / Summer 2014
      PubDate: Fri, 08 Aug 2014 14:11:45 GMT
       
  • Change: The new constant
    • Abstract: Change: The new constant
      Content Type Journal Article
      Category Editorial
      Pages 275-276

      Authors
      Alan Carswell
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 4 / Summer 2014
      PubDate: Fri, 08 Aug 2014 14:11:45 GMT
       
  • International manufacturing site selection (Part I): A comprehensive site
           analysis model
    • Abstract: This paper analyses methods used for the evaluation of sites as part of location strategies for corporations. Based on the available methods for site selection, which are pointed out, a comprehensive model for the analysis of manufacturing sites is developed and explained in detail. The internationally applicable model consists of ten phases. The application of common evaluation methods is explored and assessed. This paper is complemented by a separate paper (Part II), which will be published subsequently and will show the application of the methodology and prove its practicability through an international case study. It is the aim of these two papers to seek understanding of the challenges attached to site selection processes and, as a result thereof, achieve substantially improved results from future site selection projects or location strategies.
      Content Type Journal Article
      Category Papers
      Pages 293-306

      Authors
      Thomas Glatte
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 4 / Summer 2014
      PubDate: Fri, 08 Aug 2014 14:11:45 GMT
       
  • CRE: Are we approaching an inflection point?
    • Abstract: With the virtual world currently revolutionising when, where and how people work, this paper is a call to arms for employers and employees to change the way they think about the workplace. The author wishes for all CRE employees to begin talking about new ways the work ‘place’ can be perceived, and entreats us to think of CRE employees as ‘value deliverers’, as opposed to ‘cost controllers’. The focus must shift towards people rather than place, because the work ‘place’ is now all around us, accessible from anywhere. This is something the CRE industry must take advantage of in order to wring the maximum amount of value from the ever changing world of current big business.
      Content Type Journal Article
      Category Comment
      Pages 277-280

      Authors
      Chris Kane
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 4 / Summer 2014
      PubDate: Fri, 08 Aug 2014 14:11:45 GMT
       
  • Change management models for workplace transformation
    • Abstract: The purpose of this paper is to demonstrate how corporate real estate (CRE) leaders can ­proactively support strategic change efforts across a range of corporate initiatives, including workplace change. The authors demonstrate the effectiveness of applying deliberate change management ­models — in particular the ‘eight-step process for leading change’ by John Kotter — along with a next-generation model to guide the change process. A staged approach that addresses emotional engagement is shown to be an essential element of the successful implementation of change. This paper combines a literature review, expert knowledge and case study data. To demonstrate the models in action, case studies of change initiatives at Apollo Education Group (Apollo) are examined and further illustrated using six Fortune 100 sized company case studies of CRE high-performance workplace implementation undertaken in 2011 by Corporate Portfolio Analytics. Using both sets of cases underscores the generalisability of the change management models. The findings show how change management processes that proactively incorporate emotional engagement can be effective in CRE initiatives and other corporate change efforts. Supporting or initiating change management programmes is an important new domain of the CRE function because many operational and process changes impact the physical workplace. Engaging the emotional and operational elements of a change management effort is essential for success. This study is one of very few that includes actual case data about CRE change management programmes. In addition, this is the first paper to test Kotter's model in the context of CRE practices.
      Content Type Journal Article
      Category Papers
      Pages 281-292

      Authors
      Alicia Mandel
      Colette Temmink
      Martha O'Mara
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 4 / Summer 2014
      PubDate: Fri, 08 Aug 2014 14:11:45 GMT
       
  • Advanced workplace strategies: Realigning the office to better support
           today's workers
    • Abstract: As technology continues to improve, real estate strategies are evolving to provide property-related solutions that are adaptable to change. If there is one keyword that is synonymous with advanced workplace strategy (AWS) it is ‘flexibility’. AWS has evolved over the past several years and has impacted the real estate industry in many ways. AWS is changing how architects design space, how organisations leverage their investments and costs, how the workforce ‘goes to work’, and how technology is provisioned and installed. It is important to understand the drivers that are leading corporations and their corporate real estate (CRE) groups to adopt new strat­egies for mobility, design and technology.
      Content Type Journal Article
      Category Papers
      Pages 322-333

      Authors
      Francisco J. Acoba
      Jean Chick
      Burt Rea
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 4 / Summer 2014
      PubDate: Fri, 08 Aug 2014 14:11:45 GMT
       
  • Strategies for managing the serviced office portfolio
    • Abstract: This paper considers serviced offices and explains why they comprise a mismanaged part of most client portfolios. Serviced offices are often referred to as the ‘blind spot’ in any real estate portfolio for two reasons: they usually are not the biggest part of a portfolio and, consequently, some brokers do not pay much attention to them because the commissions are not high enough. But significant savings and tremendous operational flexibility can be achieved by knowing who best to work with, what negotiation strategies to employ and how to continue to work the market and avoid the auto-renewal death spiral.
      Content Type Journal Article
      Category Papers
      Pages 260-267

      Authors
      Robert Mark Ellis
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 3 / Spring 2014
      PubDate: Wed, 26 Mar 2014 14:07:43 GMT
       
  • The missing link: Transforming deep retrofits into financial assets
    • Abstract: Deep retrofits — those saving 50 per cent or more energy and achieving superior sustainability performance — are valuable yet largely untapped financial assets. This paper describes how to calculate all the value created by deep retrofits, radically changing the value proposition of deep retrofits, enabling such investments to take their proper role as a central driver of company performance. Many corporations have steadily improved the energy and sustainability performance of their buildings, primarily to minimise operating costs and keep pace with changing codes and standards. Many also have been searching for financially viable approaches to expand sustainability efforts to meet growing customer, employee and investor demand, but have struggled to link deeper energy/sustainability retrofits to attractive financial performance. This paper presents the ‘missing link’: how to calculate and present the value created by deep retrofits of corporate real estate. The deep retrofit value model for corporations consists of nine ‘value elements’ organised around a traditional business valuation framework that starts with an evaluation of retrofit property costs and risks, and then details how a deep retrofit affects business costs, revenues and risks. If implemented broadly, corporations will enhance their competitive position and financial performance while helping to transform global energy use to create a clean, prosperous and secure future.
      Content Type Journal Article
      Category Papers
      Pages 244-259

      Authors
      Scott Muldavin
      Roy Torbert
      Michael Bendewald
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 3 / Spring 2014
      PubDate: Wed, 26 Mar 2014 14:07:42 GMT
       
  • Proworking: Redefining the workplace and the role of corporate real estate
    • Abstract: The term ‘workplace’ has taken on a new meaning, now referring to work environments both within and outside of a company's portfolio of leased or owned properties. With the proworking concept, a company adopts a holistic approach to its use of real estate and commits to offering multiple options for employees to be at their most productive, in the places that best support achieving business results. Delivering that environment means re-envisioning how and where workers access the space and resources they need. Proworking extends the concept of co-working to the enterprise, with owners of real estate consistently providing professional and well-maintained work environments to mobile professionals.
      Content Type Journal Article
      Category Papers
      Pages 207-216

      Authors
      John Hampton
      Journal Corporate Real Estate Journal

      Online ISSN 2043-9148
      Journal Volume Volume 3
      Journal Issue Volume 3, Number 3 / Spring 2014
      PubDate: Wed, 26 Mar 2014 14:07:42 GMT
       
 
 
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