09/06/2005

Who's Who in the Buildings Market 2005: Corporate Real Estate

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

 

Wal-Mart Stores Inc. (530+)
Bentonville, AR
(479) 273-4000
www.walmartstores.com

The world’s No.1 retailer, Wal-Mart, stands above the rest with its 530 million-square-foot portfolio. As of July 31, 2005, the company reports operating 3,762 stores domestically. According to Wal-Mart’s 2005 annual report, the stores comprised 529.8 million square feet of property, which includes 1,276 (U.S.) Wal-Mart Stores (135.5 million square feet); 1,838 (U.S.) Supercenters (320 million square feet); 556 (U.S.) SAM’s Clubs (70.7 million square feet); 92 (U.S.) Neighborhood Markets (3.6 million square feet); 106 (U.S.) Industrial Buildings (square footage unavailable).


Ford Motor Land Development Corp. (240.2+)
Dearborn, MI
(313) 323-3100
www.fordlanddevelopment.com

A full-service provider of real estate, construction, and facility services, Ford Motor Land Development Corp. (Ford Land), is a wholly owned subsidiary of Ford Motor Co. Ford Land is famous for the development of the business, retail, residential, and recreational community surrounding Ford Motor Co.’s headquarters. 310 Office Campuses and Buildings (worldwide)*: 8.5 million square feet. Industrial Buildings (worldwide)*: 231.7 million square feet.


The Home Depot Inc. (226.5)
Atlanta, GA
(770) 433-8211
www.homedepot.com

America’s second-largest retailer, Home Depot, is also the world’s largest home improvement chain. Already on the top, the company continues to grow with plans to add 175 stores in fiscal year 2005. Chain stores include EXPO Design Center stores, Home Depot Landscape Supply stores, The Home Depot Supply stores, and the Home Depot Floor Stores. Office Buildings: 1.9 million square feet. 1,890 Chain Stores: 200.6 million square feet. Industrial Buildings: 20.1 million square feet. Support Centers: 3.9 million square feet.


Sears, Roebuck and Co. (151+)
Hoffman Estates, IL
(847) 286-2500
www.sears.com

Now a wholly owned subsidiary of Sears Holdings Corp., Sears, Roebuck and Co. is the third-largest retailer in the United States and the largest provider of product repair. In addition to more than 2,400 stores in Canada and the United States, Sears purchased 50 stores from Kmart Holding in 2004. These stores will be converted into Sears Grands and Sears Essentials, both freestanding formats to compete with big discount chains. 6 Office Buildings: 2 million square feet. 2,026 Chain Stores (U.S.): 149 million square feet. 735 Industrial Buildings: square footage not available.


Lowe’s Cos. Inc. (123.7+)
Mooresville, NC
(704) 758-1000
www.lowes.com

In 2004, Lowe’s opened 140 stores, an average of one new store every 3 days. (It’s no wonder the company is the world’s second-largest home improvement retailer). The organization sells more than 40,000 products for home improvement and repair projects. Like its competitors, Lowe’s is branching out into the service market, such as carpet installation. 1,087 Chain Stores: 123.7 million square feet of selling space. 20 Industrial Buildings: square footage not available.


Albertsons Inc. (120)
Boise, ID
(208) 395-6200
www.albertsons.com

Improving operations in 2004, the No. 2 U.S. supermarket chain, Albertsons, introduced the disciplines of Six Sigma and became the first food and drug retailer in the world to do so. The new disciplines are helping improve operating efficiencies, thus offering customers better prices and service. More than half of Albertsons stores are combination food stores and drugstores, capitalizing on America’s need for convenience. 2,503 Chain Stores and 234 Fuel Centers: 104.2 million square feet. 19 Industrial Buildings: 15.8 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 recognized leader in the real estate industry. The company reports a real estate portfolio comprising approximately 100 million square feet of space with an asset value of $5 billion. Office Buildings*: 25 million square feet. Industrial Buildings*: 70 million square feet.


Federated Department Stores Inc. (83.3)
Cincinnati, OH
(513) 579-7000
www.federated-fds.com

The largest upscale department store retailer just got bigger. With its very recent acquisition of The May Department Stores Co., Federated - operating under the names of Bloomingdale’s and Macy’s - announced the merger in February 2005. May operated under several different store names, but as the acquisition is completed, many of the stores will be converted into Macy’s department stores. Combined, the result would encompass about 1,000 department stores with estimated annual sales of approximately $30 billion. As of Jan. 29, 2005, Federated operated 459 chain stores, for a total of 83.3 million square feet of space.


Safeway Inc. (82.2)
Pleasanton, CA
(925) 467-2400
www.safeway.com

Hoping to gain ground over its food retail competitors, Safeway is launching a $100-million marketing campaign to promote its new “style.” After already completing 30 new stores and 280 to 290 remodeled stores in 2005*, the new style won’t be hard to spot. Boasting $35.8 billion in 2004 sales, Safeway has a right to claim a leading status among the nation’s food retailers. 1,800 Chain Stores*: 82.2 million square feet. Capital Spending in 2005 Devoted Toward Facilities*: $1.4 billion.


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

The largest consumer IT company, Hewlett-Packard strives to “offer products, services, and solutions that are high-tech, low cost, and deliver the best customer experience.” HP continues to integrate Compaq Computer while continuing to acquire such names as Consera Software, Novadigm, and TruLogica in 2004. The company occupies 17 million square feet (4 million domestically) for sales and support, in addition to 52 million square feet (33 million domestically) for manufacturing plants, research and development, warehouse, and administrative facilities.


Costco Wholesale Corp. (62.7)
Issaquah, WA
(425) 313-8100
www.costco.com

Members of Costco, the nation’s largest wholesale club operator, can shop from a selection of (on average) 4,000 products. To keep in step with its competition, Costco is incorporating fresh food sections and other additional departments such as gas stations and optical departments into its existing and new warehouses. The company plans to open 30 new warehouses in the United States and Canada in fiscal year 2005. 458 Warehouse Stores (337 located in the United States and Puerto Rico): 62.7 million square feet (based on an average per building of 137,000 square feet).


Walgreen Co. (60.8)
Deerfield, IL
(847) 914-2500
www.walgreens.com

Pioneer of the freestanding store with a drive-thru pharmacy, Walgreen Co. is the leader in sales among the nation’s retail pharmacy chains. Convenience is key for the 4,582 stores, which are strategically placed in high-traffic locations - a fifth of which are open 24 hours a day. With 436 new stores in fiscal year 2004 and 450 planned to open in fiscal year 2005, Walgreen Co. continues to move toward its 2010 goal of 7,000 stores. 11 Office Buildings: 1.7 million square feet. Chain Stores: 50.9 million square feet. 5 Strip Shopping Centers: 226,000 square feet. 17 Industrial Buildings (including 3 mail service facilities): 8 million square feet.


Dillard’s Inc. (56.6+)
Little Rock, AR
(501) 376-5200
www.dillards.com

Operating about 330 stores in 29 states, Dillard’s Inc. maintains its status as the No. 3 upscale department store in the United States. Tradition, combined with forward-thinking ingenuity - such as the double-anchor concept of two locations in the same mall - keeps Dillard’s on the competitive edge. The company reports annual revenues in excess of $7.8 billion. Office Buildings: 300,000 square feet. 329 Chain Stores: 56.3 million square feet. 7 Industrial Buildings: square footage not available.


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

With over 125,000 employees working in all 50 states, Northrop Grumman Corp. has established itself as the world’s No. 1 shipbuilder and No. 3 U.S. defense contractor. The company operates in seven sectors: Electronic Systems, Information Technology, Integrated Systems, Newport News, Mission Systems, and Space Technology. As of Dec. 31, 2004, Northrop Grumman owned and leased 2,338 buildings/structures totaling approximately 54 million square feet of space.


CVS Corp. (52.5)
Woonsocket, RI
(401) 765-1500
www.cvs.com

In order to fill nearly one out of every eight retail prescriptions in America, CVS operates around 5,400 retail drugstores in 36 states. CVS recently completed the acquisition of over 1,200 Eckerd drugstores located primarily in the Sunbelt markets of Florida and Texas. 2 Office Buildings: 678,000 square feet. 5,375 Chain Stores: 43.5 million square feet of selling space. 15 Industrial Buildings (including 2 mail service facilities): 8.3 million square feet.


Whirlpool Corp. (51.5)
Benton Harbor, MI
(269) 923-5000
www.whirlpoolcorp.com

Although Whirlpool is the No. 1 U.S. home appliance maker, the company employs more than 5,000 people dedicated solely to innovation initiatives to maintain Whirlpool’s leading status. Consumers can find Whirlpool products under its own brand name as well as under KitchenAid, Bauknecht, Roper, and Speed Queen. The company reports annual sales of over $13 billion. At year-end 2004, the company occupied a total of 51.5 million square feet of space.


Rite Aid Corp. (48)
Camp Hill, PA
(717) 761-2633
www.riteaid.com

After a troubled past, Rite Aid returned to profitability in fiscal year 2004 and is ready to begin growing again. 75 new stores are planned to open in fiscal year 2005, and a total of 145 new and relocated stores are planned by March 2006. As of Feb. 26, 2005, Rite Aid operated 3,356 retail drugstores. Approximately half of all Rite Aid stores are currently freestanding. 2 Office Buildings: 305,000 square feet. 3,356 Chain Stores: 42.8 million square feet (based on an average store size of 12,750 square feet). 14 Industrial Buildings: 4.9 million square feet.


Raytheon Co. (40.4)
Waltham, MA
(781) 522-3000
www.raytheon.com

The world’s No. 1 missile maker, Raytheon also produces radar, reconnaissance, targeting, and navigation systems. The company reports 2004 sales of over $20 billion. Raytheon owns and leases space for manufacturing, engineering, research, administration, sales, and warehousing. As of Dec. 31, 2004, this space totaled 39.7 million square feet, with an additional 693,000 square feet that was not yet in use.


Intl. Business Machines Corp. (IBM) (27)
Armonk, NY
(914) 499-1900
www.ibm.com

This diverse company, Intl. Business Machines (IBM), spans 75 countries with 329,000 employees speaking over 165 languages. IBM is the No. 1 leader in providing information technology (IT) services to the world. The company continues to use acquisitions to push itself to the top in every market, including software, where it ranks No. 2 just behind Microsoft. At year-end 2004, IBM’s U.S. manufacturing and development facilities totaled 27 million square feet of space, including 3 million square feet that were not presently in use.


Circuit City Stores Inc. (20.9+)
Richmond, VA
(804) 527-4000
www.circuitcity.com

Continuing its store revitalization program, Circuit City opened 31 new stores and relocated 28 stores in fiscal year 2005. This electronic retailer, which is No. 3 in the country, offers products such as televisions, DVD players, audio systems, telephones, video games, and personal computers. 2 Office Buildings: square footage not available. 622 Chain Stores: 20.9 million square feet. 9 Industrial Buildings: square footage not available.


Johnson & Johnson (19)
New Brunswick, NJ
(732) 524-0400
www.jnj.com

Manufacturing and selling all kinds of healthcare products since 1885, Johnson & Johnson has proven to be successful with 72 consecutive years of sales increases. The company reports $47.3 billion in 2004 sales. Its 141 industrial buildings are used for products to the consumer, pharmaceutical, and medical devices and diagnostics industries, for a total of 19 million square feet.


La-Z-Boy Inc. (18.5)
Monroe, MI
(734) 242-1444
www.lazboy.com

Providing reclining comfort to customers for over 75 years, La-Z-Boy still boasts a growing company record with 13 acquired stores in early 2005. Out of the company’s standalone stores, nearly 70 are constructed in the “New Generation” format, offering more space and an updated appearance. La-Z-Boy owns or leases approximately 15.7 million square feet of manufacturing, warehousing, office, showroom, and retail facilities, with an additional 2.8 million square feet not in use at this time.

* 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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