1999
Abstract:
For many years operating companies around the world generally have owned their real
estate assets. In the United States alone it is estimated that corporate users own nearly $2 trillion,
or roughly half of all commercial property. Companies own not only their production facilities,
but frequently their offices, warehouses, and retail outlets. Although many of these properties are
suitable for a broad range of users, these operating companies choose to commit their scarce
capital to the ownership and operation of real estate, rather than re-deploying this capital to their
core operating businesses.
