Site Selection Group Releases Real Estate Portfolio Management Playbook for Small to Mid-Sized Companies

While Fortune 500 companies often have entire departments dedicated to managing their real estate portfolios, some small and mid-sized companies face challenges in effectively managing theirs. Often. they lack the internal staffing, technology, and other resources to oversee their real estate portfolio.

To help optimize corporate real estate portfolios, Site Selection Group has released a whitepaper identifying 10 steps to help guide a small and mid-size company with multiple locations. These steps are not all-encompassing, but they provide a simple guide to help you gain control of your real estate and drive savings to your bottom line.  

Key Challenges Faced by Companies

It is much easier to solve real estate portfolio issues when you are a Fortune 500 company with unlimited resources and staff to solve simple and complex portfolio decisions. Companies with smaller portfolios are faced with the following issues:

• Lack of a real estate strategy or plan. 
• No executive-level real estate leadership capable of developing a strategy.
• Facilities management or administration staff managing real estate decisions.
• Focus too heavily on their core business rather than real estate issues or needs.
• Reactive versus proactive real estate decisions.
• Poorly maintained real estate data tracked on spreadsheets.
• No understanding of real estate utilization and actual space needs. 
• Reliance on local brokers instead of corporate real estate advisors.
• Lack of facilities standards or design specifications.
• No inventory of furniture and equipment.
• No established vendor relationships with pricing control.
• Poorly maintained facilities with deferred maintenance issues. 

10 Steps to Optimizing Your Real Estate Portfolio

To help companies optimize their portfolios, Site Selection Group has developed a playbook of key steps to help you optimize your real estate portfolio. The following highlights the steps and you can access the full report by clicking here.

1. Evaluate the Current State of Your Real Estate Portfolio
2. Develop a Real Estate Portfolio Strategy
3. Gather Your Real Estate Data and Implement a Data Management System
4. Determine Your Location Strategies
5. Managing Real Estate Transactions
6. Identifying Economic Incentive Opportunities
7. Managing the Construction Process
8. Managing Your Facilities
9. Performance Measurements
10. Evaluation and Process Improvement

Conclusions

Managing a corporate real estate portfolio can be extremely challenging for small and mid-sized companies trying to optimize one of the largest expense items. Staff and budget limitations can create a greater need to rely on third-party real estate service providers like Site Selection Group that provide a comprehensive real estate solution. To learn how to manage your real estate portfolio, download the full whitepaper here.