09/01/2004

Who's Who in the Buildings Market 2004: Corporate Real Estate

Facilities departments in corporations, responsible for the management of company-owned and leased buildings

 

Wal-Mart Stores Inc. (1,000)
Bentonville, AR
(479) 273-4000
www.walmartstores.com

 

Of the company’s more than 1 billion-square-foot portfolio, the domestic properties total square footage in excess of 911.1 million. 1,494 (U.S.) Wal-Mart Stores: 145 million square feet. 1,385 (U.S.) Supercenters: 275 million square feet. 532 (U.S.) SAM’s Clubs: 68.1 million square feet. 56 (U.S.) Neighborhood Markets: 422.9 million square feet.


Ford Motor Land Development Corp. (243.5)
Dearborn, MI
(313) 323-3100
www.fordlanddevelopment.com

Since 1970, Ford Motor Land Development Corp. (Ford Land), a wholly owned subsidiary of Ford Motor Co., has grown significantly in size and scope. 310 Office Buildings globally*: 8.5 million square feet. 285 Industrial Buildings globally*: 235 million square feet. The company is best known for a 2,360-acre, master-planned development named Fairlane, which surrounds Ford’s world headquarters in Dearborn, MI. Ford Land employs approximately 1,100 people in North America.


 The Home Depot Inc. (204.5)
Atlanta, GA
(770) 433-8211
www.homedepot.com

 

The world’s largest home improvement chain, The Home Depot Inc., continues to expand. The company opened 145 new Home Depot stores in 2003. Combined with its EXPO Design Centers, The Home Depot Inc.’s real estate portfolio totals more than 204.5 million square feet. At the end of fiscal 2003, the company was operating 1,515 Home Depot stores in the United States, including territories in Puerto Rico and the Virgin Islands. Office Buildings: 1.7 million square feet. Chain Stores (owned and leased): 182.6 million square feet. Industrial Buildings (owned and leased): 16.6 million square feet. Support Centers (owned and leased): 3.5 million square feet.


Sears, Roebuck and Co. (147.8)
Hoffman Estates, IL
(847) 286-2500
www.sears.com

 

In a recent move to expand, Sears, Roebuck and Co. recently purchased 54 stores previously owned by Kmart Corp. and acquired leases on seven stores held by Wal-Mart Stores Inc. According to published reports, the company has more than 870 U.S. mall-based stores and about 1,100 additional international locations. 1,992 Chain Stores: 147.8 million gross retail area in square feet.


Lowe’s Cos. Inc. (109)
Mooresville, NC
(704) 758-1000
www.lowes.com

 

The rapid cycle of growth continues as Lowe’s Cos. Inc. continues to expand. The company is opening on average, two new superstores per week and reported serving more than 520 million customers in 2003. At the start of 2004, the company had plans to open 140 new stores – 10 more than were opened the year before – in cities with populations greater than 500,000. 950 Chain Stores: 109 million square feet.


Boeing Realty Corp. (95)
Irvine, CA
(949) 790-1900
www.boeing.com/special/realty

 

Responsible for all aspects of real estate strategies, acquisitions and dispositions, development, and leasing worldwide for The Boeing Co., Boeing Realty Corp. is a leader in the real estate industry. To-date, the company has developed more than 7 million square feet of commercial space, brought more than 1,000 acres of mixed-use development to the market in the last five years, and completed 50 major development projects throughout the United States. The corporate real estate portfolio at more than 350 sites worldwide totals 95 million square feet*. Office Buildings*: 25 million square feet. Industrial Buildings*: 70 million square feet.


Albertson’s Inc. (93.9)
Boise, ID
(877) 932-7948
www.albertsons.com

 

Albertson’s has come a long way since 1939 when founder Joe Albertson opened a small grocery store in Boise, ID. The fundamentals, however, are still the same: high quality, good value, and excellent service. Albertson’s stores are located in 31 states and the company employs about 200,000 individuals. 2,305 Chain Stores: 93.9 million square feet.


Federated Department Stores Inc. (83.6)
Cincinnati, OH
(513) 579-7000
www.federated-fds.com

 

As the owner of both Bloomingdale’s and Macy’s, Federated Department Stores Inc. operates more than 400 stores in 34 U.S. states, Guam, and Puerto Rico. The company has plans to expand into the San Francisco area in 2006, and formed the Macy’s Home Store division in 2004. 459 Chain Stores: 83.6 million gross square feet.


The May Department Stores Co. (80.3)
St. Louis, MO
(314) 342-6300
www.mayco.com

 

With the acquisition of Marshall Field’s stores, the May Department Stores Co.’s expansion plans have been solidified. Currently, the company operates upscale shopping stores such as Lord & Taylor, Foleys, Hecht’s, and Filene’s. May continues its focus on boosting its bridal group stores, of which there are now 680 locations. At the beginning of the year, the company planned 8 store openings in 2004. 1,124 Chain Stores: 80.3 million square feet.


Hewlett-Packard Co. (69)
Palo Alto, CA
(650) 857-1501
www.hp.com

 

Since the acquisition of Compaq, Hewlett-Packard has grown and is now giving IBM some real competition. This high-tech giant is No. 11 on the Fortune 500 list and reports a corporate real estate portfolio containing 69 million square feet. Sales and Support Operations: 19 million square feet (of which 7 million square feet is domestic). Industrial Buildings: 50 million square feet (33 million square feet which is in the United States).


Costco Wholesale Corp. (59.7)
Issaquah, WA
(425) 313-8100
www.costco.com

 

Despite what you might think, Costco Wholesale holds the title for largest wholesale club operator in the United States (not Wal-Mart’s SAM’s Club). Selling everything from candy to office equipment, Costco offers brand-name merchandise to members at substantially lower prices. 437 Industrial Buildings: 59.7 million square feet (based on an average per building of 136,753 square feet).


Dillard’s Inc. (56)
Little Rock, AR
(501) 376-5200
www.dillards.com

 

The more than 300 stores operated by Dillard’s Inc. are primarily located in the Sunbelt and central United States. Dillard’s maintains its No. 3 upscale department store chain status with ingenuity, just one example being the double anchor concept of two locations in the same mall. The company reports annual revenues in excess of $7.8 billion. 328 Chain Stores: 56 million square feet.


Walgreen Co. (55.1)
Deerfield, IL
(847) 940-2500
www.walgreens.com

 

With a strategy of growth through development (rather than acquisition), Walgreen Co. remains vigilant in its goal to have more than 7,000 stores by 2010. As of the end of July 2004, the company’s count of stores tallied 4,480, up 360 from 1 year ago. 7 Office Buildings: 1.5 million square feet. Chain Stores: 46.7 million square feet. 13 Industrial Buildings: 6.8 million square feet.


Northrop Grumman Corp. (54)
Los Angeles, CA
(310) 553-6262
www.northgrum.com

 

The world’s No. 1 shipbuilder and No. 2 U.S. defense contractor, Northrop Grumman operates six sectors: Electronic Systems, Information Technology, Mission Systems, Integrated Systems, Ship Systems, Space Technology, and Newport News. The company reports owning and leasing 54 million square feet of space at 2,374 buildings/structures.


Whirlpool Corp. (48.7)
Benton Harbor, MI
(269) 923-5000
www.whirlpoolcorp.com

 

It’s not likely that too many U.S. homes don’t own an appliance manufactured by Whirlpool Corp. With annual sales in excess of $11 billion, the company manufactures products under brands such as Whirlpool, KitchenAid, and Kenmore in 41 locations worldwide. At year-end 2003, the company occupied a total of 48.7 million square feet.


Rite Aid Corp. (47.9)
Camp Hill, PA
(717) 761-2633
www.riteaid.com

 

According to published reports, Rite Aid Corp. – despite recent troubles – is headed for a future of expansion. 75 new stores are planned in fiscal 2005. Currently, half of the company’s drugstores are freestanding. 2 owned and leased Office Buildings: 305,000 square feet. 3,382 Chain Stores: 42.9 million square feet (based on an average store size of 12,700 square feet). Industrial Buildings: 4.6 million square feet.


CVS Corp. (39)
Woonsocket, RI
(401) 765-1500
www.cvs.com

 

For more than 40 years, CVS Corp. has been servicing customers by filling prescriptions, processing film, and supplying general merchandise. 2 Office Buildings: 678,000 square feet. 4,179 Chain Stores: 32.6 million square feet of selling space. 11 Industrial Buildings (including 2 mail order service facilities): 5.7 million square feet.


Raytheon Co. (37)
Waltham, MA
(781) 522-3000
www.raytheon.com

 

As a leader in defense and government electronics, space, information technology, technical services, and business aviation and special mission aircraft, Raytheon operates a number of plants, laboratories, warehouses, and office facilities worldwide. At the close of 2003, the company owned or leased approximately 36 million square feet of floor space, with an additional 1 million square feet that was not in use.


Circuit City Stores Inc. (20.5+)
Richmond, VA
(804) 527-4000
www.circuitcity.com

 

Undergoing continuous store improvements, Circuit City Stores Inc. has proven why it’s No. 2 in consumer electronics. In fiscal 2004, the company relocated 18 stores and built 8 new stores bringing the total of relocated, fully remodeled, or newly constructed stores to 131 since 2001. The company expects to open between 60 and 70 new or relocated Superstores during fiscal 2005. 607 Chain Stores: 20.1 million square feet. Industrial Buildings: 388,000 square feet-plus.


Johnson & Johnson (18.1)
New Brunswick, NJ
(732) 524-0400
www.jnj.com

 

According to the company’s website, “The fundamental objective for Johnson & Johnson is to provide scientifically sound, high-quality products and services to help heal, cure disease, and improve the quality of life.” This healthcare product manufacturing giant operates 154 Industrial Buildings, totaling 18.1 million square feet.


La-Z-Boy (15.1)
Monroe, MI
(734) 242-1444
www.lazboy.com

 

Just as the recliner has been reinvented, so has La-Z-Boy. According to published reports, the company plans on opening between 20 and 25 new stores and remodeling or relocating this many stores in 2005. 26 Office Buildings*: 661,000 square feet. 109 Industrial Buildings*: 14.5 million square feet.

 

* Indicates statistics received from company, based on Buildings’ Who’s Who questionnaire. In cases where information was not supplied in response to Buildings’  Who’s Who questionnaire, information was derived from public information: 10K reports, company websites, industry-related reports, Hoover’s Online, and other published and electronic materials.

 

 
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