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Public Real Estate Management--Adapting Corporate Practice to the Public Sector: The Experience in Cleveland, Ohio

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    Abstract

    This paper addresses the issue of public real estate management, focusing on the potential to adapt corporate management practice to the public sector. The research begins with a review of the survey literature on real estate management practice and decisionmaking among American non-real estate corporations and public agencies in Sweden. The paper also reports the preliminary results of a survey of twenty-one suburban municipal property managers in the Cleveland, Ohio Metropolitan Area. The current public real estate management practice is described and compared with available survey results on private sector management. Topics include organization of the real estate function, information management, decision rules, and policies and development activities. The feasibility of applying selected private real estate decisionmaking and management practices to the public sector is explored. Initial results show that while the municipalities surveyed participate in many real estate practices such as leasing and joint development, they often do not have the decision framework to financially evaluate these activities. One approach to enhancing the way public agencies deal with real property is set forth. The paper closes with suggestions for future research.

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    File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol08n04/v08p639.pdf
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    Bibliographic Info

    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 8 (1993)
    Issue (Month): 4 ()
    Pages: 639-654

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    Handle: RePEc:jre:issued:v:8:n:4:1993:p:639-654

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    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Web page: http://www.aresnet.org/

    Order Information:
    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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    Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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    1. Peter R. Veale, 1989. "Managing Corporate Real Estate Assets: Current Executive Attitudes and Prospects for an Emergent Management Discipline," Journal of Real Estate Research, American Real Estate Society, vol. 4(3), pages 1-22.
    2. Robert H. Pittman & Joel R. Parker, 1989. "A Survey of Corporate Real Estate Executives on Factors Influencing Corporate Real Estate Performance," Journal of Real Estate Research, American Real Estate Society, vol. 4(3), pages 107-120.
    3. Jeffrey Gale & Fred Case, 1989. "A Study of Corporate Real Estate Resource Management," Journal of Real Estate Research, American Real Estate Society, vol. 4(3), pages 23-34.
    4. Mike Miles & John Pringle & Brian Webb, 1989. "Modeling the Corporate Real Estate Decision," Journal of Real Estate Research, American Real Estate Society, vol. 4(3), pages 47-66.
    5. Arnold L. Redman & John R. Tanner, 1989. "The Acquisition and Disposition of Real Estate by Corporate Executives: A Survey," Journal of Real Estate Research, American Real Estate Society, vol. 4(3), pages 67-80.
    6. John A. Tatom, 1991. "Public capital and private sector performance," Review, Federal Reserve Bank of St. Louis, issue May, pages 3-15.
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    Cited by:
    1. Chris Manning & Stephen E. Roulac, 2001. "Lessons from the Past and Future Directions for Corporate Real Estate Research," Journal of Real Estate Research, American Real Estate Society, vol. 22(1/2), pages 7-58.

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