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Open Access
Article
Publication date: 10 April 2023

Pauli Autio, Lauri Pulkka and Seppo Junnila

The aim of this paper is to introduce a framework that helps to identify strategic themes on which real estate investors form their strategies. A holistic approach to strategic…

2663

Abstract

Purpose

The aim of this paper is to introduce a framework that helps to identify strategic themes on which real estate investors form their strategies. A holistic approach to strategic management in real estate management has enjoyed popularity in corporate real estate research, while similar research has been lacking from the investor-based real estate management.

Design/methodology/approach

The research design consists of two main parts: 1) formulating propositions based on existing literature and 2) attempting to validate the propositions through a qualitative interview study with major real estate owners in Finland.

Findings

The main finding is that the current real estate investors reflect the transient nature of competitive advantages and assess their strategies accordingly. The companies consider the traditional profitability and revenue growth aspects of their business but also a more long-term future growth dimension. As an outcome, the investors base their strategies on eight strategic themes which are “Innovation”, “ESG”, “Marketing and sales”, “Financial management”, “Leasing management and tenant satisfaction”, “Competitive environment and portfolio management”, “Outsourcing and strategic partnerships” and “Cost and operation optimization”.

Research limitations/implications

This paper opens opportunities for future research concerning different strategies in real estate investment business and their impacts.

Practical implications

The presented framework provides support for real estate investors to create real estate management strategy or to evaluate their current strategy and to recognize operational actions and decisions that are relevant for their strategy.

Originality/value

This paper provides an extension to corporate real estate (CRE) literature by showing that the CRE theories are adaptable to real estate investment and provide value for their strategic management. This paper also contributes to real estate investment literature by providing a well-founded and empirically contested strategic management framework, the IREM framework, for identifying strategic themes on which real estate investors form their strategies.

Details

Journal of European Real Estate Research, vol. 16 no. 1
Type: Research Article
ISSN: 1753-9269

Keywords

Open Access
Article
Publication date: 17 August 2023

Niklas Wiesweg

German (corporate-) real estate management departments have been facing the challenge of poor data quality for years. This holds them back from generating efficiency potentials…

Abstract

Purpose

German (corporate-) real estate management departments have been facing the challenge of poor data quality for years. This holds them back from generating efficiency potentials via the use of new methods from the field of digitalisation and from coping with the increasing requirements from the ESG context. The purpose of this paper is to explore why German (corporate-) real estate managements (do not) share data with their real estate service providers to address the data quality challenge and identify possible solutions.

Design/methodology/approach

To answer the research question, the reasoned action approach, an established theory from psychology for predicting human behaviour, is used. The relationships between the constructs are determined using linear regression. The study participants are almost exclusively from Germany.

Findings

The organisational milieu (perceived behavioural control) has a significant impact on the behaviour of sharing data with real estate service providers. Especially the change of contractual arrangements (data-driven contracts) seems to be crucial for the improvement of information logistics.

Originality/value

To the best of the author’s knowledge, for the first time, the reasoned action approach is used within the German real estate industry to predict organisational behaviour in the context of digitalisation.

Details

Journal of Corporate Real Estate , vol. 25 no. 4
Type: Research Article
ISSN: 1463-001X

Keywords

Open Access
Article
Publication date: 20 May 2021

Howard Cooke, Rianne Appel-Meulenbroek and Theo Arentze

This paper aims to identify the importance of individual variables in the corporate real estate (CRE) decision-making process.

1034

Abstract

Purpose

This paper aims to identify the importance of individual variables in the corporate real estate (CRE) decision-making process.

Design/methodology/approach

Nine experts received a posed scenario of a changed business strategy requiring a CRE reduction in individual interviews. Based on their suggested response, a decision network was modelled for each expert using the causal network elicitation technique, incorporating the utilities for decision variables and importance weights for attributes and benefits. The decision model offers a graphical representation of decision-benefit links for the decisions CRE managers make in such a period of decline.

Findings

Perceived facilitators of CRE dynamic alignment were identified by calculating lift ratios on their perceived importance of the attributes they mentioned during the interviews as nodes in the network that link decisions to benefits. Facilitators included CRE metrics and workplace strategy, while capital expenditure and landlords inhibit alignment processes. The research provides more granular insight into the variables used in CRE decision-making and the factors that facilitate or inhibit the dynamic alignment process.

Research limitations/implications

The research set a specific scenario for the experts to consider. That could be regarded as small but there was clear evidence of saturation of expert knowledge. Additional face-to-face interviews with the experts may have generated further details on the thought processes of the experts.

Practical implications

The research provides more granular insight into the variables used in CRE decision-making and the factors that facilitate or inhibit the dynamic alignment process. Thereby providing CRE decision-makers with key elements for a decision model.

Originality/value

The research technique, causal network elicitation technique, uses semi-structured interviews to create decision networks, which is a technique that has not been widely applied to CRE research. The research provides a granular view of what are important inhibitors or facilitators of dynamic alignment of CRE to business strategy.

Details

Journal of European Real Estate Research , vol. 14 no. 2
Type: Research Article
ISSN: 1753-9269

Keywords

Open Access
Article
Publication date: 7 September 2023

Chioma Okoro

Technological change drives transformation in most sectors of the economy. Industry 4.0 technologies have been applied at different stages of a building’s lifecycle. However…

Abstract

Purpose

Technological change drives transformation in most sectors of the economy. Industry 4.0 technologies have been applied at different stages of a building’s lifecycle. However, limited studies exist on their application in real estate facilities management (REFM). This study aims to assess the existing knowledge on the topic to suggest further research directions.

Design/methodology/approach

Scopus-indexed literature from 2013 to 2023 was examined and visualised using VOSviewer software to output quantitative (descriptive) results. Content analysis was used to complement the quantitative findings.

Findings

Findings indicated a concentration of research in China, Norway and Italy. The knowledge areas included three clusters: lifecycle integration and management, data curation and management and organisational and management capabilities. The benefits, challenges and support strategies were highlighted.

Research limitations/implications

More collaboration is needed across countries and territories on technology integration in REFM. Future research using alternative methodologies is recommended, with a focus on adopting and non-adopting REFM organisations. Further, implications for facility managers, employees, technology suppliers or vendors, training, organisations and management exist.

Practical implications

Further, implications for facility managers, employees, technology suppliers or vendors, training, organisations and management exist.

Originality/value

The study reveals the knowledge base on technology use in REFM. It adds to the evidence base on innovation and technology adoption in REFM.

Details

Facilities , vol. 41 no. 15/16
Type: Research Article
ISSN: 0263-2772

Keywords

Open Access
Article
Publication date: 7 June 2021

Huiying (Cynthia) Hou, Hilde Remøy, Tuuli Jylhä and Herman Vande Putte

Triggered by public concerns over office workplace safety during the COVID-19 pandemic, this study sheds light on the office workplace environment and aims to investigate how…

13800

Abstract

Purpose

Triggered by public concerns over office workplace safety during the COVID-19 pandemic, this study sheds light on the office workplace environment and aims to investigate how organisations respond to forces from the external environment (impacted by the COVID-19 pandemic) and how they modify their office workplace management strategically and operationally to suit the stakeholders’ needs and future development in the post COVID-19 period.

Design/methodology/approach

A desktop study was conducted to provide the framework for the in-depth interviews with five corporate real estate (CRE) managers and three workplace consultants. Thematic analysis including coding technique was adopted to analyse the qualitative data.

Findings

The findings show that during the COVID-19 pandemic, most of the intended and implemented office workplace modifications are mainly related to two types of risk control: administrative control and personal protection. At a strategic level, organisations react to the external forces by re-modelling their businesses and working towards re-orienting their CRE strategies, such as portfolio transformation, agile portfolio strategies and redesign of the office workplace, etc.

Originality/value

This is a topical and timely study that presents the general practice of office workplace modification during the COVID-19 pandemic, as well as the related CRE management (CREM) strategies developed for the new normal. The findings obtained through in-depth interviews have well supported the CREM strategic alignment theory. It is foreseen that office workplace management will encounter other challenges due to uncertainties of the COVID-19 pandemic. The findings of this study provide a practical lens to look at the future changes of office workplace environment.

Details

Journal of Corporate Real Estate , vol. 23 no. 3
Type: Research Article
ISSN: 1463-001X

Keywords

Open Access
Article
Publication date: 26 February 2024

Daniël van Staveren, Monique Arkesteijn and Alexandra Den Heijer

Corporate real estate management (CREM) is complex due to an increasing number of real estate (RE) added values and the tensions between them. RE managers are faced with…

Abstract

Purpose

Corporate real estate management (CREM) is complex due to an increasing number of real estate (RE) added values and the tensions between them. RE managers are faced with trade-offs: to choose a higher performance for one added value at the cost of another. CREM research mainly deals with trade-offs in a hypothetical sense, without looking at the characteristics of the RE portfolio nor the specific context in which trade-offs are made. The purpose of this paper is to further develop the concept of real estate value (REV) optimisation with regard to tensions between decreasing CO2 emissions and supporting user activities.

Design/methodology/approach

Mixed method study. REV optimisation between user activities and energy efficiency for police stations in the Netherlands built between 2000 and 2020 is analysed. This is complemented by interviews with an RE manager and senior user of police stations and analysis of policy documents.

Findings

The characteristics of the police station portfolio indicate no correlation between user activities and energy efficiency for the case studied. This is complemented by interviews, from which it becomes clear that there was in fact little tension between supporting user activities and energy efficiency. The performances of these two different added values were optimised separately.

Originality/value

This study combines different scales (building and portfolio level) with different types of data: portfolio analysis, document analysis and interviews. This creates a comprehensive image of whether and how the Netherlands police optimised the two RE values.

Details

Journal of Corporate Real Estate , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-001X

Keywords

Open Access
Article
Publication date: 1 August 2019

Bart Valks, Monique Arkesteijn and Alexandra Den Heijer

The purpose of this study is to generate knowledge about the use of smart campus tools to improve the effective and efficient use of campuses. Many universities are facing a…

2476

Abstract

Purpose

The purpose of this study is to generate knowledge about the use of smart campus tools to improve the effective and efficient use of campuses. Many universities are facing a challenge in attuning their accommodation to organisational demand. How can universities invest their resources as effectively as possible and not in space that will be poorly utilized? The hypothesis of this paper is that by using smart campus tools, this problem can be solved.

Design/methodology/approach

To answer the research question, previous survey at 13 Dutch universities was updated and compared with a survey of various universities and other organizations. The survey consisted of interviews with structured and semi-structured questions, which resulted in a unified output for 27 cases.

Findings

Based on the output of the cases, the development of smart campus tools at Dutch universities was compared to that of international universities and other organizations. Furthermore, the data collection led to insights regarding the reasons for initiating smart campus tools, user and management information, costs and benefits and foreseen developments.

Originality/value

Although the use of smart tools in practice has gained significant momentum in the past few years, research on the subject is still very technology-oriented and not well-connected to facility management and real estate management. This paper provides an overview of the ways in which universities and organizations are currently supporting their users, improving the use of their buildings and reducing their energy footprint through the use of smart tools.

Open Access
Article
Publication date: 25 November 2021

Theo van der Voordt and Per Anker Jensen

This paper aims to explore the added value of healthy workplaces for employees and organizations, in particular regarding employee satisfaction, labour productivity and facility…

26811

Abstract

Purpose

This paper aims to explore the added value of healthy workplaces for employees and organizations, in particular regarding employee satisfaction, labour productivity and facility cost.

Design/methodology/approach

The paper is based on a narrative review of journal papers and other sources covering the fields of building research, corporate real estate management, facilities management, environmental psychology and ergonomics.

Findings

The review supports the assumption of positive impacts of appropriate building characteristics on health, satisfaction and productivity. Correlations between these impacts are still underexposed. Data on cost and economic benefits of healthy workplace characteristics is limited, and mainly regard reduced sickness absence. The discussed papers indicate that investing in healthy work environments is cost-effective.

Originality/value

The findings contribute to a better understanding of the complex relationships between physical characteristics of the environment and health, satisfaction, productivity and costs. These insights can be used to assess work environments on these topics, and to identify appropriate interventions in value-adding management of buildings and facilities.

Details

Journal of Corporate Real Estate , vol. 25 no. 1
Type: Research Article
ISSN: 1463-001X

Keywords

Open Access
Article
Publication date: 4 May 2021

Bart Valks, Elizabeth Blokland, Catelijne Elissen, Iris van Loon, Danko Roozemond, Paul Uiterdijk, Monique Arkesteijn, Alexander Koutamanis and Alexandra Den Heijer

Across the world, many universities are dealing with a pressure on resources, caused by both organisational developments and ageing campuses. Space utilization studies have a…

1626

Abstract

Purpose

Across the world, many universities are dealing with a pressure on resources, caused by both organisational developments and ageing campuses. Space utilization studies have a strategic role, providing information on how space is being used, thereby informing decisions about the type and scale of facilities that are needed.

Design/methodology/approach

This study reports on the space use measurements conducted at TU Delft over the past five years, complemented by their use to make decisions about the university's real estate portfolio.

Findings

The education spaces of the university are found to perform well in terms of frequency rates and can be improved in terms of occupancy rates. The information helped to support short- and long-term decision-making. The study places of the university have a satisfactory occupancy in some types of study places, while in others there is room for improvement. More research is needed here to understand the relationship between space norms and space use.

Practical implications

The space utilization studies have supported discussions with the student council and decision makers on which interventions are required and which current facilities meet students' needs best.

Originality/value

Not much space utilisation studies are reported in the academic literature, and those that do have several limitations. This study may serve as a best practice for benchmarking by other universities and as evidence in other research for the planned and actual use of university facilities.

Details

Property Management, vol. 39 no. 4
Type: Research Article
ISSN: 0263-7472

Keywords

Open Access
Article
Publication date: 30 November 2021

Susanne Colenberg and Tuuli Jylhä

It is widely recognized that interior office space can affect health in several ways. Strategic and evidence-based design, including explicit design objectives, well-chosen design…

9775

Abstract

Purpose

It is widely recognized that interior office space can affect health in several ways. Strategic and evidence-based design, including explicit design objectives, well-chosen design solutions and evaluation of results, aid realization of desired health effects. Therefore, this paper aims to identify possibly effective interior design strategies and accompanying design solutions and to provide examples of effectiveness measures.

Design/methodology/approach

A literature sample of 59 peer-reviewed papers published across disciplines was used to collect examples of workplace design features that have positively influenced workers’ well-being. The papers were grouped by their health objective and design scope successively and their theoretical assumptions, measures and findings were analyzed.

Findings

Four main workplace design strategies were identified. Design for comfort aims at reducing or preventing health complaints, discomfort and stress, following a pathogenic approach. It has the longest tradition and is the most frequently addressed in the included papers. The other three take a salutogenic approach, promoting health by increasing resources for coping with demands through positive design. Design for restoration supports physical and mental recovery through connections with nature. Design for social well-being facilitates social cohesion and feelings of belonging. Design for healthy behavior aims at nudging physical activity in the workplace.

Originality/value

By drawing complementary perspectives and offering examples of design solutions and effectiveness measures, this paper encourages workplace designers, managers and researchers to take a transdisciplinary and evidence-based approach to healthy workplaces. It also serves as a starting point for future empirical research.

Details

Journal of Corporate Real Estate , vol. 24 no. 3
Type: Research Article
ISSN: 1463-001X

Keywords

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