Who’s Who in the Buildings Market 2003: Corporate Real Estate

Aug. 26, 2003
Facilities departments in corporations, responsible for the management of company-owned and leased buildings
Wal-Mart Stores Inc. (560.6)Bentonville, AR(479) 273-4000www.walmartstores.comDomestically, 1,568 Wal-Mart discount stores: 151.9 million square feet; 1,258 Supercenters: 234.6 million square feet; 525 SAM’s Clubs: 65.7 million square feet; and 49 Neighborhood Markets: 2.16 million square feet. Internationally, 1,288 retail facilities: 106.2 million square feet. Operates 84 Wal-Mart distribution facilities, 19 SAM’s Club distribution facilities, and 37 McLane distribution facilities. Owns its Bentonville, AK, corporate HQ facilities and an office facility in Temple, TX. Leases an office facility in Brisbane, CA – the home office for Wal-Mart.com. Sears, Roebuck and Company (152)
Hoffman Estates, IL(847) 286-2500www.sears.comGross Retail Area at fiscal year-end 2002 for Sears was 150 million square feet of space in 2,192 stores: 127.2 million in 872 full-line stores, with the remainder in specialty stores. Company also owns the 200-acre site in Hoffman Estates, IL, where its principal executive offices are located: six, interconnected buildings totaling approximately 2 million gross square feet of office space. As of Dec. 28, 2002: 856 other sales offices and service facilities, as well as 119 distribution facilities.

The Home Depot Inc. (142)

Atlanta, GA(770) 433-8211www.homedepot.comOperates a total of 1,532 stores, including 1,370 Home Depot stores in the United States and Puerto Rico, which collectively consist of about 137 million square feet; Home Depot owns approximately 82 percent of them. The company’s executive, corporate staff, and financial office occupies approximately 1.77 million square feet of leased and owned space in Atlanta. Home Depot also occupies an aggregate of about 3.3 million square feet for divisional store support centers, subsidiary support centers, and subsidiary customer support centers.

The Kroger Company (136+)

Cincinnati, OH(513) 762-1160www.kroger.comAccording to published reports, Kroger is the No. 1 pure grocery chain ($51.8 billion in sales) in the United States despite the fact Wal-Mart has overtaken it as the largest seller of groceries in the country. It operates 2,488 supermarkets directly or through subsidiaries, totaling 136 million square feet. Also owns and/or operates 784 convenience stores and 441 fine jewelry stores. For 2003, published reports show the company expects full-year square footage to grow 2.5 to 3 percent, excluding acquisitions and operational closings.

J.C. Penney Corporation (formerly J.C. Penney Company) (134.7)

Plano, Texas(972) 431-1000www.jcpenney.comClimbing eight spots on the Fortune 100 from No. 50 to No. 42 (posting $32.3 billion in sales), the company operates 3,789 retail stores, comprised of 1,049 JCPenney department stores, 54 Renner department stores, and 2,686 Eckerd drugstores, for a total of 134.7 million square feet of gross selling space. Also operates 14 store distribution centers and outside stockrooms (owning four). The Eckerd division operates and owns nine drugstore distribution centers. Also owned: company’s home office facility in Plano, TX; Eckerd corporate offices in Largo, FL; and Renner corporate offices in Porto Allegre, Brazil.

Boeing Realty Corporation (120)

Long Beach, CA(562) 627-4900www.boeing.com/special/realtyCurrent portfolio comprises approximately 120 million square feet with an asset value of $9 billion. 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 past five years; and completed 50 major development projects throughout the United States.  Its current projects include 1,000 acres of land in various stages of development, with a fully built-out market value of about $1.5 billion.

Albertsons Inc. (106.7)

Boise, ID(208) 395-6349www1.albertsons.com/corporateAlbertsons, the No. 2 U.S. supermarket chain and No. 35 on the Fortune 100, now operates 2,287 retail stores in 31 states. These retail stores consist of 1,313 combination food-drug stores, 708 stand-alone drugstores, and 266 conventional and warehouse stores. Total company-wide retail square footage is a little more than 92.1 million square feet. Retail operations are supported by 17 major company distribution centers, equaling 14.6 million square feet.

Lowe’s Companies (94.7)

Wilkesboro, NC(336) 658-4000www.lowes.comThe company is in major expansion mode, opening a new store every three days on average, with a total of 123 new stores in 2002. At the beginning of 2003, retail selling space square footage totaled approximately 94.7 million. In 2003, Lowe’s plans to open another 130 stores, using two prototypes, and is focusing much of its future expansion on metro markets with populations of 500,000 or more.

Federated Department Stores (83.5)

Cincinnati, OH(513) 579-7000www.federated-fds.comFederated Department Stores, No. 122 on the Fortune 500, operates more than 450 stores in 34 states, Puerto Rico, and Guam, with a combined square footage of 83.5 million. Federated owns two of the most famous names in the retail business: Macy’s and Bloomingdales, as well as a number of regional chains, including The Bon Marché, Burdines, Rich’s Department Stores, Lazarus, and Goldsmiths. Beginning in August, the company will further capitalize on its famous Macy’s name and append that moniker to all of its regional chains.

The May Department Stores Company (78.7)

St. Louis, MO(314) 342-6300www.mayco.comMay operates six regional department store divisions with a total of 433 stores in 37 states. It also operates a bridal group consisting of David’s Bridal Inc. (180 stores), After Hours Formalwear Inc. (235 stores), and Priscilla of Boston (10 stores). Total Gross Retail Square footage is 78.7 million with 868 stores total nationwide in all divisions. By year-end 2003, the retailer will open 11 additional department stores, totaling 1.8 million square feet stores across the United States. Planned capital expenditures for 2003 are about $600 million, including remodeling/expanding 26 stores (2.9 million square feet).

Hewlett-Packard Company (72)

Palo Alto, CA(650) 857-7150www.hp.com72 million square feet owned or leased worldwide, 20 million devoted to sales and support operations and 52 million encompassing manufacturing plants, R&D facilities, and warehouse and administrative facilities. Investment in new property, plant, and equipment for continuing operations: $1.7 billion in 2002.

Dillards Inc. (56.7)

Little Rock, AR(501) 376-5200www.dillards.comIn the No. 3 department store position, Dillards has a gross square footage approximating 56.7 million square feet, operating primarily in the Southeast, Southwest, and Midwest. During 2002, the company opened four new stores and three replacement stores. These seven stores totaled approximately 1.1 million square feet of retail space. In addition, the company completed major expansions on five stores totaling 434,000 square feet of retail space. The company employs 55,208 associates. It ranked No. 229 on the most recent Fortune 500.

Northrop Grumman (55)

Los Angeles, CA(310) 553-6262www.northgrum.comThe company manufactures its high-profile products, including the B-2 stealth bomber, amphibious assault ships, and oil tankers, in its 1,400 industrial buildings totaling nearly 33.7 million square feet of space*. Northrop Grumman also operates out of 943 office buildings with a combined square footage of nearly 21.7 million*. Dollar Volume of Spending in 2003 Devoted Toward Facilities: Capital, $50 million-plus*; Operational, $500 million-plus*.

Walgreen Company (50.1)

Deerfield, IL(847) 940-0250www.walgreens.comWith more than $1 billion in Capital expenditures for facilities in 2003, 56 percent is earmarked for 450 new drugstores and a distribution center in northern Ohio, increasing the chain’s current combined square footage of 50.1 million. To-date, Walgreen Co. operates approximately 4,000 stores with a reported net selling space of 42.7 million square feet, as well as 12 distribution centers (6.3 million square feet); six principal office facilities (1.1 million square feet); and one owned and two leased mail service facilities (187,000 square feet).  

Whirlpool Corporation (47.2)

Benton Harbor, MI(269) 923-5000www.whirlpool.comWhirlpool, the No. 1 appliance manufacturer in the United States and No. 2 worldwide (superceded only by Sweden’s AB Electrolux), dominates a number of the top brand names in the home department, besides its self-named brand. Its principal manufacturing operations are at 47 worldwide locations, 37 of which are located in 13 countries besides the United States. Whirlpool occupies about 47.2 million square feet of space devoted to manufacturing, service, administrative offices, warehouse, distribution, and sales space.

Rite Aid Corporation (43.5+)

Camp Hill, PA(717) 761-1263www.riteaid.comIn the process of ironing out some growing pains, stemming from the acquisition of more than 1,500 stores since 1996, the company operates 3,404 retail drugstores in 28 states and the District of Columbia (each averaging 12,700 total square feet). Add that to the company’s 205,000-square-foot headquarters building; another 100,000-square-foot administrative building in Harrisburg, PA; 4.6 million square feet of space in 12 distribution centers and overflow storage locations; and a 52,000-square-foot ice cream manufacturing facility in El Monte, CA , and it equals more than 43.5 million square feet of occupied space within the corporation.

CVS Corporation (37.3)

Woonsocket, RI(401) 765-1500www.cvs.comAs of Dec. 28, 2002, the company operated 4,087 retail and specialty pharmacy stores in 32 states and the District of Columbia, totaling 31.5 million square feet of net selling space. Also owns its 568,000-square-foot corporate headquarters building and leases 110,000 square feet of office space in Rhode Island; leases 120,000 square feet in two mail order service facilities in Ohio and Pennsylvania; and owns four distribution centers and leases five additional facilities, totaling approximately 5 million square feet.

Raytheon Company (34.4)

Lexington, MA(781) 862-2660www.raytheon.comThe country’s No. 4 defense contractor’s offerings include missile systems (Patriot, Hawk, Tomahawk), radars and reconnaissance, targeting and navigations systems, as well as radios, air traffic control systems, and satellite communication systems. As of Dec. 31, 2002, Raytheon occupies approximately 34 million square feet of floorspace for manufacturing, engineering, research, administration, sales, and warehousing, with approximately 95 percent of it in the United States. The company also has about 1.4 million square feet of additional floor space not in use.

Circuit City Stores (21.2)

Richmond, VA(804) 527-4000www.circuitcity.comWith 627 retail stores and six office buildings, the No. 2 U.S. electronics retailer has more stores than its main competitor, Best Buy. Most Circuit City stores range from 9,500 to 43,000 square feet, for a total of 20 million square feet*. The company’s offices occupy an addition 1.2 million square feet*. It ranks 151st on the Fortune 500, up six slots from the prior year.

La-Z-Boy Inc. (17.3)

Monroe, MI(734) 241-4414www.lazboy.comMore than just sinfully relaxing recliners, the U.S.’s top maker of upholstered furniture are sold through more than 300 La-Z-Boy Furniture Galleries and 315 in-store galleries at furniture dealers, department stores, and other outlets. Owns or operates 17.3 million square feet* of manufacturing, warehousing, office, showroom, and retail space nationwide. La-Z-Boy has annual sales in excess of $2 billion and annual capitalization in excess of $1.2 billion. The firm employs nearly 17,000 people, Four Professionals that are involved Full-Time in Facilities*.

Dell Inc. (10.6)

Round Rock, TX(512) 338-4400www.dell.comDell has changed its name, dropping “Computer” from its moniker to the more sophisticated, broad-based Dell Inc. Owns or leases approximately 10.6 million square feet of office, manufacturing, and warehouse space worldwide – about 7 million square feet in the United States. Headquarters contains an aggregate of about 2.1 million square feet of office and lab space; also leases 570 acres of land in Austin, TX (2 million square feet) and 1.2 million square feet of space in Tennessee.

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