Equity Office Properties Trust
With nearly 700 office properties comprising 124 million square feet of space, Equity Office Properties Trust (EOP) is the first real estate company to be named to the S&P 500 and has nearly quadrupled in size since its Initial Public Offering in 1997. The company is currently the largest real estate investment trust (REIT) in the United States, and has positioned itself in the country’s major metropolitan markets to provide unique solutions for businesses with local, regional, and national needs. The REIT is headed by industry-renowned Sam Zell, who has made his mark by purchasing distressed properties and transforming them into profitable investments, with support from Richard Kincaid, who came on-board last year as Equity’s president and chief executive officer.
[Editors’ Note: When the professionals at Equity Office Properties Trust announce an office market recovery, the industry sits up and takes notice. In early August, Equity President/CEO Kincaid noted, with some caution, “We believe that we are in the early stages of a broad-based recovery in office markets across the country.” The organization’s entrepreneurial spirit – fully evidenced by maverick Sam Zell in both personality and actions – remains, along with smart business savvy and persistence. Equity reads the market like no other.]