Business Specialties Corporate Real Estate Services
March 6, 2009
By: Eugene Gilligan, Senior Editor
With the United States and much of the global economy in a perilous state, many corporations are looking to their real estate service providers for advice on how to make the best use of their real estate portfolios. To this end, telecommunications firm Nokia has chosen CB Richard Ellis Inc. as its global strategic real estate advisor.
CBRE will provide services such as transaction management, brokerage, and lease administration across Nikia's 20 million square foot global portfolio, which encompasses more than 380 properties in 60 countries across Europe, the Middle East, Africa, Asia, and the Americas.
A recent white paper released by CBRE outlined six core strategies for corporate occupiers looking to reduce occupancy costs: reduce portfolio size; take advantage of market conditions; optimize capital deployment; reduce facility operating expenses; refine organization and processes; and reconsider workplace, workforce, and location.
The focus among corporations with a significant global footprint is to use service providers who can service them in the countries they have locations in, or want to expand into, said Richard Kadzis (pictured), director of special projects for CoreNet Global. Many of these corporations look on these service providers as their partners in their global expansion, he said.
For real estate service firms that perform these advisory services on a global scale, though, there are some hurdles to overcome, Kadzis said. “To add this kind of value, the service provider has to take on more risk,” Kadzis said. “The service provider has to have offices in many countries, so they can provide these services on a global scale.”
Also, many times, a robust technology platform is needed, such as what Jones Lang LaSalle offers. “They can offer a ‘balcony view’ of a corporation’s real estate holdings,” Kadzis said. “So, if an executive says the company needs a warehouse in Eastern Europe, their technology program will show them that they may have a facility in that region that can be used, or shared.”
By: Eugene Gilligan, Senior Editor
With the United States and much of the global economy in a perilous state, many corporations are looking to their real estate service providers for advice on how to make the best use of their real estate portfolios. To this end, telecommunications firm Nokia has chosen CB Richard Ellis Inc. as its global strategic real estate advisor. CBRE will provide services such as transaction management, brokerage, and lease administration across Nikia's 20 million square foot global portfolio, which encompasses more than 380 properties in 60 countries across Europe, the Middle East, Africa, Asia, and the Americas.
A recent white paper released by CBRE outlined six core strategies for corporate occupiers looking to reduce occupancy costs: reduce portfolio size; take advantage of market conditions; optimize capital deployment; reduce facility operating expenses; refine organization and processes; and reconsider workplace, workforce, and location.
The focus among corporations with a significant global footprint is to use service providers who can service them in the countries they have locations in, or want to expand into, said Richard Kadzis (pictured), director of special projects for CoreNet Global. Many of these corporations look on these service providers as their partners in their global expansion, he said.
For real estate service firms that perform these advisory services on a global scale, though, there are some hurdles to overcome, Kadzis said. “To add this kind of value, the service provider has to take on more risk,” Kadzis said. “The service provider has to have offices in many countries, so they can provide these services on a global scale.”
Also, many times, a robust technology platform is needed, such as what Jones Lang LaSalle offers. “They can offer a ‘balcony view’ of a corporation’s real estate holdings,” Kadzis said. “So, if an executive says the company needs a warehouse in Eastern Europe, their technology program will show them that they may have a facility in that region that can be used, or shared.”
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