Corporate Real Estate Management back to basics? A re-invention of the operational foundation of CREM

Ronald van Nattem and Adri Proveniers

ERES from European Real Estate Society (ERES)

Abstract: Since the nineties of the last century - due to the influence of international trends ñ the role pattern of Corporate Real Estate Management (CREM) of big companies and organizations is developed from pure operational to ñ to a large extent ñ strategic. Some of the top priorities were: ï New developments of headquarters ï Real Estate as profitable asset in Portfolio Management ï Inside-company lease or rent out: a separate real estate ëcompany inside the companyí It sometimes was seen as a kind of strategic playground for CEOís, but as one of the results of the declining economic growth in the first decade of the new century and certainly after the break out of the worldwide financial crisis in 2008/2009, the strategic asset of corporate real estate is declining and the operational benefits are rediscovered again. The Eindhoven University of Technology ñ the host University of this yearís ERES 2011 Conference ñ has changed its processes of maintenance and control in a way, that it could be a matter of re-invention: ï Distance its self from an ñ exclusive - strategic approach. ï But not going back to the ñ original ñ small technical (building, electrical and mechanical engineering) basis. ï But to a new, on innovative and rally demand driven CREM organization on direct production and services focused operational restructuring, maintenance and control. This re-invention leads to a brand new focus on policy and on daily work processes from the staff of the Division Maintenance and Control ñ where one of the authors is leading manager. The re-invention is illustrated with the casus of one of the University Campus buildings. The paper could be an initial guide for modernization for CREM organizations. But ñ in times of the actual financial crisis ñ could also be an eye-opener for commercial real estate companies, whose lack of interest for their actual renters of their assets is often so huge, that ñ in general ñ one even doesnít know the names of the included firms!

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2011-01-01
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Citations: View citations in EconPapers (1)

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