Working Paper #657
Realizing the Value of Corporate Real Estate Management
Steffen Hartmann · Peter Linneman · Andreas Pfnür · Boris Siperstein
Commercial Brokerage CRE Europe Investing United States
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.