scholarly journals Searching for Flexibility in Corporate Real Estate Portfolio: Six Co-Working Strategies for User Corporations

Buildings ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 115
Author(s):  
Natalia Echeverri ◽  
Tuuli Jylhä ◽  
Philip Koppels
Keyword(s):  
Real Estate ◽  
Business Environment ◽  
User Preferences ◽  
Structured Interviews ◽  
Financial Flexibility ◽  
Related Case ◽  
Qualitative Case Studies ◽  
Corporate Real Estate ◽  
Case Documentation ◽  
The Face

The increasing competitive pressures and dynamic user preferences have resulted in a fast-paced and uncertain business environment. In the face of these circumstances, organizations are looking into alternatives to incorporate flexibility to become more adaptive and responsive to change. In this line, co-working, typically associated with freelancers, entrepreneurs, and startups, has become a particularly interesting alternative in the market that has caught the attention of corporate occupiers. Therefore, the aim of this paper is to identify co-working strategies that can be implemented as part of the corporate real estate portfolio, in alignment with the flexibility demands of the organization. This nascent research topic is studied through 5 qualitative case studies including in-depth, semi-structured interviews with corporate real estate managers and related case documentation. The results evidence the different motivations that the organizations have when incorporating co-working in their property portfolio. As seen across the cases, organizations in different stages of maturity are implementing co-working as the main office location or as a temporary or complementary space solution, through six different strategies: (1) Swing Space, (2) Expansion Space, (3) Core and Flex, (4) Touchdown Space, (5) Testing Market, and (6) Temporary Projects and Staff. This research evidences that each strategy plays a specific role in the corporate real estate portfolio and implies different sources of flexibility that support the physical, functional, and financial flexibility demands of the organization.

scholarly journals ADJUSTMENT OF CORPORATE REAL ESTATE DURING A PERIOD OF SIGNIFICANT BUSINESS CHANGE

2019 ◽  
Vol 23 (3) ◽  
pp. 171-186 ◽  
Author(s):  
Howard Cooke ◽  
Rianne Appel-Meulenbroek ◽  
Theo Arentze
Keyword(s):  
Real Estate ◽  
Business Strategy ◽  
Time Lag ◽  
Business Environment ◽  
Business Strategies ◽  
Business Change ◽  
Flexible Resources ◽  
Corporate Real Estate ◽  
New Business ◽  
Dynamic Alignment

This paper seeks to understand whether the alignment process between business strategy and Corporate Real Estate (CRE) between 2007 and 2014 was dynamic. It investigated the financial data of 230 UK companies by means of a distributed time lag auto-regression model. The results show an increased commitment to CRE suggesting a reduced ability to dynamically align the portfolio. Evidence is found that CRE adjusts as turnover, profitability and employment numbers alter. However, measures of efficiency, effectiveness and productivity are not improving. The new business strategies of transient competitive advantage and blue oceans strategy require flexible resources, which require CRE to be capable of dynamic alignment. This study shows such flexibility does not yet exist in practice. Current theories of alignment should be reconsidered in light of the changing business environment. Without a dynamic alignment capability of CRE a company’s financial performance will be impaired.

PERFECTING OF VALUE MANAGEMENT OF SBERBANK PJSC CORPORATE REAL ESTATE PORTFOLIO AS A PROFIT-CENTER

2021 ◽  
Vol 1 (175) ◽  
pp. 111-125
Author(s):  
A.A. Feshchenko ◽  
Keyword(s):  
Statistical Analysis ◽  
Real Estate ◽  
Business Environment ◽  
Real Estate Market ◽  
Value Management ◽  
Profit Center ◽  
Corporate Real Estate ◽  
Estate Management ◽  
Real Estate Management ◽  
Corporate Real Estate Management

The subject of the research is a corporate real estate portfolio (CREP) of Sberbank PJSC. The aim of this study is to establish significance of developing methodological and theoretical approaches towards value management of the bank’s corporate real estate portfolio as a profit center and practical approaches towards optimizing portfolio composition. The theoretical and methodological basis of the study includes the scientific works of Russian and foreign researchers on the problems of corporate real estate management (including that of the banks’), statistical analysis of CREP, fundamental and price analysis of commercial real estate market, PEST-analysis and SWOT-analysis of CREP. The results of the study are the introduction of the term “corporate real estate management system as a profit-center” and overall analysis of the existing approaches towards managing corporate real estate as a profit center, comparison different compositions of CREP composition. Practical and substantive statistical analysis of the current CREP state was undertaken as well as the key aspect of CREP value management was studied – namely optimization of ratio between owned and leased properties within the portfolio. The authors conclude that ownership is fit for some properties of Sberbank PJSC – head offices and key business divisions, which among things dictate certain corporate image requirements. However, for most of the rest of CREP properties, leasing however is a more appropriate format that enables corporation to respond to an ever-changing business environment.

Disposal strategies in corporate real estate portfolios

2019 ◽  
Vol 21 (2) ◽  
pp. 113-129 ◽  
Author(s):  
Hilde Remøy ◽  
Sander Rovers ◽  
Ilir Nase
Keyword(s):  
Real Estate ◽  
Case Studies ◽  
Banking Sector ◽  
Strong Relationship ◽  
Strategy Execution ◽  
Structured Interviews ◽  
Content Type ◽  
Corporate Real Estate ◽  
Real Estate Management ◽  
Document Review

Purpose The purpose of this paper is to develop an operational framework with guidelines and lessons to improve the current real estate portfolio disposal procedures of freeholds, based on empirical evidence from the banking sector. Design/methodology/approach The empirical research is based on a comparative analysis of four case studies, representing approximately 80 per cent of the Dutch banking sector. The case studies comprise a systematic document review of corporate business and real estate strategies and semi-structured interviews with decision makers who steer the organisation’s corporate real estate (CRE) portfolio composition. Findings This research shows a strong relationship between organisation characteristics, legacy and strategy, disposal drivers and CRE disposal strategies. The weighing of drivers and order of steps in strategy execution strategies largely depend on organisational objectives. Research limitations/implications This paper reports empirical findings from Dutch case studies. To generalise, further research is needed in different legal, financial and economic contexts and in other sectors. This paper suggests a more thorough study of the relationship between space-use efficiency and technological innovation implementation.. Practical implications The framework proposes strategy improvements and a proactive approach to corporate real estate management (CREM) to create value through real estate portfolios. Originality/value This paper provides a thorough analysis of the CREM of the Dutch banking sector and is applicable to CREM in this and other sectors.

Smart campus tools – adding value to the university campus by measuring space use real-time

2018 ◽  
Vol 20 (2) ◽  
pp. 103-116 ◽  
Author(s):  
Bart Valks ◽  
Monique H. Arkesteijn ◽  
Alexandra C. Den Heijer ◽  
Herman J.M. Vande Putte
Keyword(s):  
Real Estate ◽  
Real Time ◽  
Space Use ◽  
Structured Interviews ◽  
Content Type ◽  
Smart Campus ◽  
Time Space ◽  
Corporate Real Estate ◽  
The Subject ◽  
Dutch Universities

Purpose The objective of corporate real estate management is to optimally attune corporate accommodation to organisational performance. At universities, the dynamic process to match supply and demand is often hindered by difficulties in the allocation and use of space. This is a challenge for the Dutch universities and perhaps also European universities, which own large and ageing real estate portfolio’s in need of (re)investment: how can universities invest their resources as effectively as possible and not in space that will be poorly used? The purpose of this paper is to explore the use of smart campus tools to improve space use on campus. Design/methodology/approach First, a survey at 13 Dutch universities is conducted, consisting of a questionnaire and semi-structured interviews with Dutch campus managers. Then, semi-structured interviews are held with a number of parties in other industries to explore the use of smart tools in other contexts. Findings The universities’ demand for smart tools is mainly directed at the automatic and continuous collection of real-time space use data for education spaces and giving students insight into the availability of study places on campus. The tools at the Dutch universities focus largely on effectiveness: helping their users in their search to find a space that supports their activities. In other industry sectors, the results suggest that the use of smart tools is more directed towards efficiency: maximizing the use of existing space or optimising the operations of the organisation. Originality/value Although the use of smart tools in practice has gained significant momentum in the past few years, research on the subject is still sparse. By providing a framework for smart tools, as well as exploring the work done in theory and in practice, the authors hope to increase discussion and research on the subject from the perspective of corporate real estate.

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