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| Structuring the Corporate Real Property
Function for Greater "Bottom Line" Impact Author: Christopher A. Manning and Stephen E. Roulac Start Page: 383 Abstract: This study reviews the
tasks a corporate real estate (CRE) function should undertake to create more opportunities
for a company's real estate-related decisions to increase shareholder wealth. The major
obstacles thwarting many corporate real estate executives from gaining the support they
have been seeking from senior management, to more fully participate in higher value
strategic planning efforts, are synthesized from several recent surveys (Arthur Andersen,
1993; Lambert, Poteete and Waltch, 1995.) Following a discussion of what corporate real
estate staffs should be doing to contribute more to shareholder wealth, and what usually
stands in their way, a proactive strategy is put forth for overcoming these obstacles.
Lastly, in light of recent contributions to the literature (Duckworth, 1993; Joroff,
Louargand, Lambert, and Becker, 1993; Kimbler and Rutherford, 1993; Lambert et al., 1995;
Noha, 1993; Nourse and Roulac, 1993) on how to integrate strategic management of a
company's real estate assets with strategic management of its business units and overall
corporate strategy, some suggestions are made for (1) how to best organize the CRE
function within a company, (2) how to make the best use of outside CRE service providers,
and (3) what skills should prove most valuable to corporate real estate executives and
their staffs. |
