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CREMRU-JCI Annual Survey of Corporate Real Estate Practices

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CREMRU-JCI Annual Survey of Corporate Real Estate Practices CREMRU-JCI Annual Survey of Corporate Real Estate Practices 2002 Technical Report Professor Ranko Bon Rachael Luck Corporate Real Estate Management Research Unit School of Construction Management & Engineering University of Reading October 2002 CREMRU-JCI Annual Survey of Corporate Real Estate Practices 1 Contents List of figures 3 List of tables 4 Executive Summary 6 Introduction 10 1 Level of response to the survey 11 2 The organisations 15 2.1 Number of properties, employees and CREM employees 15 2.1.1 Properties 16 2.1.2 Employees 17 2.1.3 CREM employees 18 2.1.4 Key indicators for an average organisation 19 2.2 The relationship of property owned to the organisation as a whole20 2.3 The time horizon used for long-term planning 21 3 The organisation of Corporate Real Estate Management (CREM)22 4 Corporate Real Estate Management (CREM) aims and objectives24 4.1 CREM mission statements 24 4.2 Current CREM objectives 27 5 CREM policies, functions and activities 29 6 The rôle of real estate within organisations in general 32 7 The rôle of real estate in respondents' own organisations 36 8 Knowledge and skills crucial to CREM in the future 41 9 Impact of the internet on corporate real estate and property industry 44 10 Comparison of CREOs, Non-CREOs and Service Providers 45 CREMRU-JCI Annual Survey of Corporate Real Estate Practices 2 10.1 Rôle: Background data 46 10.2 Rôle: Organisation of CREM unit 46 10.3 Rôle: Current CREM objectives 47 10.4 Rôles: CREM policies, functions and activities 48 10.5 Rôle: Role of CRE in own organization 51 10.6 Rôle: Role of CRE in general 54 10.7 Rôle: Knowledge and skills crucial to CREM in the future 57 11 Chief Real Estate Officer (CREO) 63 12 Analysis by Region 64 12.1 Region: Background data 64 12.2 Region: Organisation of CREM unit 65 12.3 Region: Current CREM objectives 67 12.4 Region: CREM policies functions and activities 68 12.5 Region: Role of CRE in own organisation 71 12.6 Region: Role of CRE in general 74 12.7 Region: Knowledge and skills crucial to CREM in the future 77 12.8 Region: Impact of the internet on CRE and property industry 81 Appendices I List of participating organisations II Bibliography CREMRU-JCI Annual Survey of Corporate Real Estate Practices 3 List of figures Fig. 1 The respondents to the 2001 survey by region 11 Fig. 2 Response to the survey by region for the years 1993-2001 12 Fig. 3 Number of properties owned by an average organisation for the years 1993- 2001 16 Fig. 4 Number of people employed by an average organisation for the years 1993- 2001 17 Fig. 5 Number of CREM people employed by an average organisation for the years 1993-2001 18 Fig. 6 Share of property in use, operating costs and total assets 20 Fig. 7 Trends in the organisation of corporate real estate management 23 Fig. 8 Trends in CREM policies, functions and activities 31 Fig. 9 Rôle of real estate in general 35 Fig. 10 The rôle of real estate in respondents' own organisations 39 Fig. 11 Knowledge and skills crucial for CREM in the future 43 Fig. 12 CREOs number of years experience in real estate and current post 63 CREMRU-JCI Annual Survey of Corporate Real Estate Practices 4 List of tables Level of response from different regions- all years 12 Level of responses from different market sectors 13 The organisation 2001 results 15 The organisation all years 15 Key indicators for an organisation all years 19 Relationship of property owned to the organisation as a whole 20 Time horizon used for long term planning 21 Corporate real estate management organisation 2001 results 22 Corporate real estate management organisation all years 22 CREM mission statements 24 CREM objectives 27 CREM policies, functions and activities 2001 results 29 CREM policies, functions and activities all years 30 The rôle of corporate real estate in general 2001 results 32 The rôle of corporate real estate in general all years 33 The rôle of real estate in respondent's own organisation 2001 results 36 The rôle of real estate in respondent's own organisation all years 37 Knowledge and skills crucial to CREM in the future 2001 results 41 Knowledge and skills crucial to CREM in the future all years 42 Impact of internet on corporate real estate and property industry 44 Rôles: Experience of Real Estate Executives 45 Rôles: Organisation background data 46 Rôles: Organisation of CREM 46 Rôles: Current CREM objectives 47 CREMRU-JCI Annual Survey of Corporate Real Estate Practices 5 Rôles: CREM policies, functions and activities 48 Rôles: Rôle of CRE in own organisation 51 Rôles: Rôle of CRE in general 54 Rôles: Knowledge and skills crucial to CREM in the future 57 Rôles: Impact of the internet on CRE and the property industry 60 Chief Real Estate Officer 2001 results 63 Chief Real Estate Officer all years 63 Regions: Background data 64 Organisation of CREM unit 65 Regions: Current CREM objectives 67 Regions: CREM policies, functions and activities 68 Regions: Rôle of CRE in own organisation 71 Regions: Rôle of CRE in general 74 Regions: Knowledge and skills crucial to CREM in the future 77 Regions:Impact of the internet on CRE and the property industry 81 CREMRU-JCI Annual Survey of Corporate Real Estate Practices 6 Executive Summary The main objective of the annual survey of corporate real estate practices is to facilitate inter-organisational comparisons, which will help promote more rapid diffusion of best corporate real estate management (CREM) practices across the globe. The annual CREMRU survey of corporate real estate practices was inaugurated in the summer of 1993, but it had been preceded in part by the 1991 CREMRU survey of Chief Real Estate Officers (CREOs) and chairmen from the top 100 EC Organisations. Both NACORE (International Association of Corporate Real Estate Executives) and IDRC (International Development Research Council) have been instrumental in the distribution of the survey to their membership. From 1997 the survey was conducted in collaboration with the International Performance Management Unit at Johnsons Controls Incorporated (JCI). In 1999 IDRC’s endorsement of the survey has opened it to a wider international audience. The CREMRU-JCI survey is aimed at Real Estate Officers: Chief Real Estate Officers (CREOs), Non-CREOs within corporate real estate organisations and corporate real estate management Service Providers. The survey focuses on the incidence of CREM policies, functions and activities as well as the elucidation of views concerning the knowledge or skills relevant to the CREM function in the future. The key findings from this survey are grouped into three sections: (1) significant features from the 2002 data, (2) the views of Real Estate Officers with different professional rôles, and (3) the views of Real Estate Officers from differing regions. Organisations in general The average number of properties per organisation remains at the same level as 2001, although the number of employees (headcount) has increased from last year’s survey low. Consequently the number of employees per property has increased this year to the highest level since the survey began, exceeding the previous peak in 1994. The number of CREM employees within an average organisation has increased this year. The ratio of employees to CREM employees varies over the ten year sample but for the last six years has been consistently low. The ratio of properties per CREM employee decreased this year to the lowest level since the survey began. The share of property in total assets and the share of property vacant remained stable for two years. The share of property owned in total property and share of property in annual operating costs both increased since last year. CREMRU-JCI Annual Survey of Corporate Real Estate Practices 7 I Organisation background data The long-term planning time horizon used by the majority of the organisations is under 4 years. This year the organisation of CREM as a cost centre and organising CREM by function were equal highest ranked. The most common CREM mission statement for this year's population was, 'Supporting business objectives' in North America, ‘Cost effective facilities’ in UK and Rest of Europe and ‘Maximising return from assets’ in Rest of the World. II CREM policy, function and activity The most popular CREM policy, function or activity this year was e-mail, which has been highest ranked since it was introduced in 1999. III Rôle of corporate real estate Throughout the ten years of this survey the highest ranked statements have always been, 'real estate is only part of the working environment organisations requires' and 'the primary aim of real estate in organisations is to provide appropriate working environments for the least overall cost'. The role of corporate real estate was ranked the same for people's own organisation as for organisations in general. IV CREM skills for the future For ten years the top ranked skills have always been: strategic planning, real estate portfolio management, negotiation and deal-making organisation's business or activity and information management. This year customer relations was also highly ranked. Strategic planning has consistently been the highest ranked skill for the future. V Impact of the internet on CRE Since 2000, when this question was introduced, most organisations thought that 'Internet based information systems will make the management and servicing of global portfolios easier' and ranked this statement highest. This year there was more confidence that, 'Internet based information systems will enable better business decisions concerning real estate to be made'.
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