There has been rapid change in Corporate Real Estate (CRE) management as firms seek to lighten the real estate impact on their balance sheets. More tasks are being outsourced to service providers and leasing is common for generic warehouse and office space. The CRE team asked Nicholas students to analyze and present an overview of emerging best practices of CRE Portfolio Management. Students were asked to identify critical process steps, data analysis tools, decision making criteria, optimal organizational structure, desirable employee skills, and performance evaluation techniques.
The Nicholas team began by analyzing academic journals, real estate trade journals and consulting reports. We met with several real estate and facilities service providers, including executives with Jones Lange LaSalle and Equis. We surveyed real estate management at blue-chip firms, including Procter & Gamble, Hewlett-Packard, Rockwell Automation, PepsiCo, Kraft, and GE. The surveys helped us understand trends in corporate real estate portfolio management and identify best practices. They also provided a unique opportunity to share our ideas and receive feedback from these experts. Thank you to the board members and alumni who helped to connect us with the real estate specialists at your firms.