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Corporate Real Estate Management: The New Zealand Evidence

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Abstract

This study represents the first to be performed on corporate real estate asset management in New Zealand. A nationwide survey of all non-real estate companies listed in the New Zealand Stock Exchange, and a case study of a New Zealand corporation were undertaken. An interdisciplinary model of corporate real estate asset management is developed based on the findings of both the survey and the case study. The study results indicate that having a positive corporate perception on corporate real estate asset management, a separate corporate real estate unit, and a real estate inventory record, are primary to the success of the said function. Having a team of motivated property staff and a fair and competitive reward system are also observed to be vital.

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  • Wei Kium Teoh, 1993. "Corporate Real Estate Management: The New Zealand Evidence," Journal of Real Estate Research, American Real Estate Society, vol. 8(4), pages 607-624.
    • Handle: RePEc:jre:issued:v:8:n:4:1993:p:607-624
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. Gailen L. Hite & James E. Owers & Ronald C. Rogers, 1984. "The Separation of Real Estate Operations By Spin‐Off," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(3), pages 318-332, September.
    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. 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.
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    Cited by:

    1. Linda Ellis Johnson & Arnold L. Redman & John R. Tanner, 1997. "Utilization and Application of Business Computing Systems in Corporate Real Estate," Journal of Real Estate Research, American Real Estate Society, vol. 13(2), pages 211-230.
    2. Hugh O. Nourse, 1994. "Measuring Business Real Property Performance," Journal of Real Estate Research, American Real Estate Society, vol. 9(4), pages 431-444.
    3. 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.

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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