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.

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Date Posted: 27 November 2017