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Added Value of Corporate Real Estate Management in Industrial Premises

Author

Listed:
  • Eetu Ristaniemi
  • Anna-Liisa Lindholm

Abstract

Industrial facilities (manufacturing facilities, warehouses, logistics centers, etc.) constitute a significant proportion of the overall real estate assets in Western countries. However, mainstream of the previous corporate real estate management research (CREM) has focused mainly on knowledge intensive branches and office use while there has been only a few studies about CREM in industrial facilities. The main objective of this research is to recognize the added value elements of corporate real estate management in industrial companies. The study is implemented with a constructive research method and it applies a normative case method implemented with three case studies and web based surveys for a larger sample. Based on the empirical research nine value adding attributes of CREM in industrial premises are recognized. Of these the most effective attributes to create added value are to promote employee safety and health, improve employee satisfaction, cost control, reduce environmental impacts and enhance productivity.

Suggested Citation

  • Eetu Ristaniemi & Anna-Liisa Lindholm, 2011. "Added Value of Corporate Real Estate Management in Industrial Premises," ERES eres2011_134, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2011_134
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    References listed on IDEAS

    as
    1. Bob Thompson, 2005. "European Industrial Futures," ERES eres2005_337, European Real Estate Society (ERES).
    2. Hugh O. Nourse & Stephen E. Roulac & Stellan Lundstrom, 1993. "Linking Real Estate Decisions to Corporate Strategy," Journal of Real Estate Research, American Real Estate Society, vol. 8(4), pages 475-494.
    3. Eva Labro & Tero-Seppo Tuomela, 2003. "On bringing more action into management accounting research: process considerations based on two constructive case studies," European Accounting Review, Taylor & Francis Journals, vol. 12(3), pages 409-442.
    4. Ronald C. Rutherford & Hugh O. Nourse, 1988. "The Impact of Corporate Real Estate Unit Formation on the Parent Firm's Value," Journal of Real Estate Research, American Real Estate Society, vol. 3(3), pages 73-84.
    5. Anna-Liisa Lindholm & Karen M. Gibler & Kari I. Levainen, 2006. "Modelling the Value Adding Attributes of Real Estate to the Wealth Maximization of the Firm," Journal of Real Estate Research, American Real Estate Society, vol. 28(4), pages 445-476.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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