Real Estate Papers
Document Type
Journal Article
Date of this Version
2009
Publication Source
Wharton Real Estate Review
Volume
13
Issue
1
Start Page
21
Last Page
33
Abstract
This study examines how corporate real estate management (CREM) departments are viewed within the larger corporate culture. It draws particular attention to the European and U.S. markets, focusing on four specific sectors: Banking, energy, telecommunication, and transport and logistics. The study reveals that although corporate real estate remains an important asset on corporate balance sheets, it is currently "under-managed" in both the United States and Europe, and CREM departments lack prominence in most companies. As a result, companies are not realizing the full value of their real estate assets, and are turning attention to them only in difficult times when property valuations are generally depressed.
Recommended Citation
Hartmann, S., Linneman, P. D., Pfnür, A., & Siperstein, B. (2009). Realizing the Value of Corporate Real Estate Management. Wharton Real Estate Review, 13 (1), 21-33. Retrieved from https://repository.upenn.edu/real-estate_papers/34
Date Posted: 27 November 2017