Corporate real estate is a term used to describe the real property

Real property

In English Common Law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and the improvements to it made by human efforts: any buildings, machinery, wells, dams, ponds, mines, canals, roads, various property rights, and so forth...

 held or used by a business enterprise

Business

A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...

 or organization for its own operational purposes. A corporate real estate portfolio typically includes a corporate headquarters

Corporate headquarters

Corporate headquarters is a term used to describe the entity at the top of a corporation to take full responsibility for the overall success of the corporation, ensures Corporate Governance...

 and a number of branch offices, and perhaps also various manufacturing and retail sites.

Concept

Corporate real estate may also describe the functional practice, department, or profession

Profession

A profession is a vocation founded upon specialized educational training, the purpose of which is to supply disinterested counsel and service to others, for a direct and definite compensation, wholly apart from expectation of other business gain....

 that is concerned with the planning, acquisition, management, and administration of real property on behalf of a company. Generally, Corporate real estate professionals approach the real estate market from the buy-side, or demand

Supply and demand

Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers , resulting in an...

 perspective, similar to corporate purchasing

Purchasing

Purchasing refers to a business or organization attempting for acquiring goods or services to accomplish the goals of the enterprise. Though there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations...

 or procurement

Procurement

Procurement is the acquisition of goods or services. It is favourable that the goods/services are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location...

. As such, they seek to contain costs, and may benefit from economic environments that are described by most as "weak".

Although closely related to facilities management and property management

Property management

Property management is the operation, control of ususally on behalf of an owner, and oversight of commercial, industrial or residential real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its usable life and condition...

, Corporate real estate as a concept is usually broader in corporate functional scope but more narrow within the real estate sector. For instance, Corporate Real Estate professionals (or departments) typically dedicate greater emphasis and time on multi-site long-range planning (often called "portfolio planning" or "strategic planning"). However, Corporate real estate is almost exclusively focused on commercial properties types (mostly office

Office

An office is generally a room or other area in which people work, but may also denote a position within an organization with specific duties attached to it ; the latter is in fact an earlier usage, office as place originally referring to the location of one's duty. When used as an adjective, the...

, with industrial and retail depending on the company); residential properties are rare in a corporate portfolio.

See also

• Real Property
  Real property
  In English Common Law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and the improvements to it made by human efforts: any buildings, machinery, wells, dams, ponds, mines, canals, roads, various property rights, and so forth...
  
  
• Real estate
  Real estate
  In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
  
  
• Facilities Management
• Property Management
  Property management
  Property management is the operation, control of ususally on behalf of an owner, and oversight of commercial, industrial or residential real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its usable life and condition...
  
  
• CAFM
  CAFM
  Computer-aided facility management is the support of facility management by information technology. The supply of information about the facilities is the center of attention...
  
  
• Building Automation
  Building automation
  Building automation describes the functionality provided by the control system of a building. A building automation system is an example of a distributed control system...
  
  
• Lease Administration
  Lease Administration
  Lease administration is a department that usually falls under an organization’s real estate department. Lease administration involves, but not limited to: receiving rents from facilities they own and paying rent for the facilities they lease. It has become an integral part of the accounting,...
  
  

External links

• CoreNet Global (Non-profit worldwide professional organization)
• Journal of Corporate Real Estate
• Real Estate Executive Board
• Real Estate consultancy agency