Buildings Census: Corporate Real Estate

Aug. 29, 2002
Facilities departments in corporations, responsible for the management of company-owned and leased buildingsWal-Mart Stores Inc. (515.68)
Bentonville, AR(479) 273-4000www.walmartstores.comDomestically, 1,647 Wal-Mart Discount Stores: 157.7 million square feet; 1,066 Wal-Mart Supercenters: 197.4 million square feet; 31 Neighborhood Markets: 1.4 million square feet; 500 SAM’s Clubs: 61.78 million square feet. Internationally, 1,170 retail facilities: 97.4 million square feet. Listed No. 1 on the Fortune 100, Wal-Mart Stores Inc. has become the world’s No. 1 retailer as well, with sales revenues during the fiscal year ending Jan. 31, 2002, of $217.8 billion.General Motors Corporation (300)Detroit, MI(313) reports cite Detroit-based General Motors Corporation’s real estate portfolio – among 190 countries, although the bulk of it is in the United States – at 300 million square feet. Excluding its Financing and Insurance Operations, GM – ranked for two consecutive years as No. 3 on the Fortune 100, with 2001 revenues at $177 billion – has 294 locations operating in 36 states and 148 cities in the United States.Ford Motor Land Services Corporation (280)
Dearborn, MI(313) as Ford Land, this nucleus for all of Ford Motor Co.’s real estate activities has been cited in published reports as overseeing a portfolio of approximately 280 million square feet worldwide. Work areas include Worldwide Plant Engineering, Construction and Estimating, Corporate Facilities Planning, Energy Efficiency and Supply, Property Tax Assessment and Abatement, and Site Management Operations. Ford Motor Co. has ranked for two consecutive years as No. 4 on the Fortune 100, with 2001 revenues exceeding $162 billion.Sears (148.5)
Hoffman Estates, IL(847) 286-2500www.sears.comGross Retail Area at Fiscal Year-end 2001 for Sears was 148.5 million square feet of space: 127.3 million in full-line stores, with the remainder in specialty stores: automotive, homelife, hardware, dealer, etc. Ranked No. 32 on the Fortune 100, with 2001 revenues of more than $41 billion, the Hoffman Estates, IL offices reported the following additional statistics. Number of Professionals involved full-time in facilities*: 400. Dollar volume of spending in 2002 devoted to facilities*: Capital, $300 million. Projects under way/completed in 2002*: New Construction, 10; Modernization, 200.J.C. Penney Company (140)
Plano, TX(972) 431-1000www.jcpenney.netWith a published real estate portfolio estimated at more than 140 million square feet of space – 117 million square feet in retail, 20 million square feet in warehouse/distribution, and 3 million square feet in office space – J.C. Penney Co. employs approximately 250,000 associates. As of July 2002, it operated 1,068 JCPenney department stores in all 50 states, Puerto Rico, and Mexico; and 54 Renner department stores in Brazil. Eckerd Corp. operated 2,642 drugstores throughout the Southeast, Sunbelt, and Northeast regions of the United States. J.C. Penney ranked No. 50 on the Fortune 100. Boeing Realty Corporation (120)
Long Beach, CA(562) 627-4900 real estate arm for Boeing Co. includes all aspects of real estate strategies, acquisitions and dispositions, development, and leasing worldwide for the Boeing Co., creating exceptional value out of vacant land and excess aircraft manufacturing facilities. The company portfolio, according to published reports, is valued at $9 billion and includes more than 120 million square feet of office and industrial space. Boeing Realty Corp. employs a staff of 30 facilities professionals. Boeing Co. ranked No. 16 on the Fortune 100, with revenues of almost $58.2 billion. Lowe’s Companies Inc. (80.7)
Wilkesboro, NC(336) 658-4000www.lowes.comAs of February 2002, this U.S. home improvement retail chain operated 744 stores with a total of 80.7 million square feet of selling space. The current prototype large stores is a 121,000-square-foot sales floor with a lawn and garden center comprising approximately 30,000 additional square feet. Of the total stores, approximately 70 percent are owned, with the remainder being leased. Lowe’s Companies was ranked No. 94 on the Fortune 100, with sales revenues of $22.1 billion in 2001.Walgreen Company (58.7)
Deerfield, IL(847) 940-2500www.walgreens.comSix (6) Office Buildings*: 700,000 square feet. 3,700 Chain Stores*: 52 million square feet. 10 Industrial Buildings*: 6 million. Number of professionals involved full-time in facilities*: 200. Dollar volume of spending in 2002 devoted toward facilities*: $300 million in Capital dollars. Projects under way and completed in 2002*: 1.5 million square feet in New Construction. No. 78 among Fortune 100 (up from 90 one year ago), with revenue increase of 16.1 percent to $24.6 billion.Hewlett-Packard Company (43.9)
Palo Alto, CA(650) 857-1501www.hp.comBased upon financial records for late 2001, Hewlett-Packard, with principal executives offices in Palo Alto, CA, owned or leased a total of approximately 43.9 million square feet of space worldwide, including 400,000 square feet currently occupied by Agilent Technologies Inc. Investment in new property, plant, and equipment from continuing operations amounted to $1.5 billion in fiscal 2001. Sales and support operations occupy approximately 15.9 million square feet; manufacturing plants, R&D facilities, and warehouse and administrative buildings occupied approximately 28 million square feet. HP’s rank on the Fortune 100 was No. 28.Whirlpool Corporation (41.6)
Benton Harbor, MI(616) 923-5000www.whirlpool.comRanked No. 186 on the Fortune 500 with 2001 revenues of $10.3 billion, the No. 1 U.S. home appliance maker has its principal manufacturing operations carried on at 44 locations worldwide, 34 of which are located in 12 countries outside the United States. The company occupied a total of approximately 41.6 million square feet of space devoted to manufacturing, service, administrative offices, warehouse, distribution, and sales space. The Benton Harbor, MI offices reported the following: Eight Office Buildings*: 1.05 million square feet. Number of Professionals involved full-time in facilities*: 5.Raytheon Company (41)
Lexington, MA(781) 862-6600www.raytheon.comWith worldwide 2001 sales of $16.9 billion (and No. 119 ranking on the Fortune 500), this leader in defense electronics utilized approximately 41 million square feet of floor space for manufacturing, engineering, research, administration, sales, and warehouses – of which approximately 95 percent was located in the United States. Of this total, approximately 38 percent is owned, approximately 57 percent is leased, and approximately 5 percent is made available under facilities contracts for use in the performance of U.S. Government contracts.Macy’s East (40)
Div. Federated Department Stores Inc.New York, NY(212) Department Stores’ Macy’s East division, based in New York City, provides a broad range of family apparel and home-related merchandise, appealing to a wide buying sector. Statistics from the New York office follow. 116 Shopping Centers*: 40 million square feet. Dollar volume of spending in 2002 devoted to facilities*: Operational, $17 million. Number of Professionals involved full-time in facilities*: 550. Macy’s East flagship store in Herald Square in Manhattan is considered the biggest store in the world.The Coca-Cola Company (39)
Atlanta, GA(404) 676-2121www.coca-cola.comWith published reports, citing a real estate portfolio of 39 million square feet in approximately 490 facilities, The Coca-Cola Company – ranked No. 99 on the Fortune 100, with 2001 sales revenues of approximately $20.1 billion – provides consumers in 200 countries beverage products at a rate of more than 1 billion servings each day. The company’s worldwide headquarters is located on a 35-acre office complex in Atlanta, that includes the approximately 621,000-square-foot headquarters building, the 870,000-square-foot Coca-Cola North America building, and the almost 264,000-square-foot Coca-Cola Plaza building, as well as other technical and engineering facilities and learning and reception areas.Xerox Corporation (26)
Stamford, CT(203) a total of 10 principal manufacturing and engineering facilities and leasing two additional facilities; four principal research facilities; and other buildings that encompass general offices, sales offices, service locations, and distribution centers, etc., Xerox Corp. is ranked No. 120 on the Fortune 500, with sales revenues of $16.5 billion in 2001. Published reports indicate Xerox’s North American real estate portfolio is around 26 million square feet of property in the United States and Canada. Ames Department Stores (21.69)
Rocky Hill, CT(860) 257-2000www.AmesStores.com333 Chain Stores*: 21.69 million square feet. Number of Professionals involved full-time in facilities*: 20. Dollar volume of spending in 2002 devoted toward facilities*: Capital, $70 million. This regional, full-line discount retailer, with annual sales of approximately $2.7 billion, offers value-conscious shoppers quality, name-brand products across a broad range of merchandise categories. (At press time, the retailer announced it would liquidate and close all stores.)La-Z-Boy Inc. (20)
Monroe, MI(734) Office Buildings*: 2 million square feet. 155 Industrial Buildings*: 18 million square feet. Number of Professionals involved full-time in facilities*: 4. Modernization projects under way/completed in 2002*: 200,000 square feet of space. With annual sales in excess of $2 billion, La-Z-Boy is one of the world’s leading residential furniture producers, marketing furniture for every room of the home and office, as well as for the hospitality, healthcare, and assisted-living industries.The Allstate Corporation (13.15)
Northbrook, IL(847) No. 57 on the Fortune 100, with revenues in sales exceeding $28.8 billion dollars in 2001, the “good hands” company offers personal lines, homeowners lines, property/casualty, and fire insurance products in Asia, Europe, and the Americas. Allstate’s home office complex consists of several buildings totaling approximately 2.35 million square feet of office space on a 250-acre site. The company also operates from approximately 1,212 administrative, data processing, claims handling, and other support facilities in North America, of which 3.2 million square feet are owned and 7.6 million square feet are leased. SONY Electronics Inc. (12.36)
Business of Sony Corporation of AmericaPark Ridge, NJ(201) leading manufacturer of audio, video, communications, and information technology products for the consumer and professional markets was just ranked No. 1 for the third year in the annual Harris poll survey of best brands. The Park Ridge, NJ, SONY Electronics Inc. business unit reports the following real estate statistics. 40 Office Buildings*: 1.93 million square feet. 23 Shopping Centers*: 232,596 square feet. 40 Industrial Buildings*: almost 10.2 million square feet.CIGNA Corporation (11)
Philadelphia, PA(215) 761-1000www.cigna.comAccording to published reports, CIGNA’s 11 million square feet of rentable space is mostly office property located in the United States. This insurance and financial services company – ranked No. 107 on the Fortune 500, with sales revenues of more than $19 billion in 2001 – has a 50,000-square-foot headquarters (leased space), while staff support operations are located in approximately 635,000 square feet of leased space in the Philadelphia area. Federal Express Corporation (10.1-plus)
Memphis, TN(901) No. 103 on the Fortune 500, with revenues in 2001 sales of more than $19.6 billion, the world’s No. 1 express transport firm delivers more than 3 million packages daily. Sorting and handling facilities encompass the majority of the real estate portfolio (of available information), exceeding 9 million square feet of space in Memphis, Indianapolis, Fort Worth, Newark, Oakland, Los Angeles, Chicago, Anchorage, and Subic Bay, Philippines. Eight separate buildings comprise the 1.1 million-square-foot world headquarters. Not reported in total square footage is an additional 686 U.S. facilities for city station operations and 182 more through the company’s international network. Fruit of the Loom Inc. (7.83)
Sub. Berkshire Hathaway Inc.Bowling Green, KY(270) 781-6400www.fruit.comThis vertically integrated basic apparel company is one of the world’s largest manufacturers and marketers of men’s and boy’s underwear, women’s and girl’s underwear, printable T-shirts, and fleece for the activewear industry, casualwear, and childrenswear. Fruit of the Loom employs approximately 23,000 people in over 50 locations worldwide. The combination of manufacturing, warehouse and distribution, and sales and administration facilities operated by the company as of year-end 2001 occupied approximately 7.83 million square feet of real property, of which 2.26 million square feet were under leases expiring through 2017. Walt Disney Parks & Resorts (6.39)
Walt Disney World Resort/Convention SpaceLake Buena Vista, FL(407) the parent company, The Walt Disney Co., ranked No. 73 on the Fortune 100, with revenues of almost $25.3 billion in 2001 sales, the company’s “Fact Book” reports the following statistics for its Walt Disney World Resort/Convention Space in Buena Vista, FL. (Buildings’ estimates for hotel rooms is 300 square feet/room.) Total hotel rooms are 20,250 (or 6.075 million square feet estimates), with an additional 318,000 square feet of owned meeting space. The report notes total non-owned resorts at Walt Disney World equal 6,278 hotel rooms (1.88 million square feet, based on Buildings’ estimates) and 418,686 square feet of net meeting space. Rite Aid Corporation (5)
Camp Hill, PA(717) 761-2633www.riteaid.com3,500 Chain Stores*: 5 million square feet. Number of Professionals involved full-time in facilities*: 100. Rite Aid Corp. is one of the nation’s leading drugstore chains, combining its modern store base, strong brand name, modern distribution centers, and superior pharmacy technology with a talented team of approximately 77,000 full- and part-time associates. At end of fiscal year 2001, the company reported total sales of $14.49 billion. Rite Aid is listed as No. 132 on the Fortune 500.Merrill Lynch (4)
New York, NY(212) Industrial Buildings*: 4 million square feet. Dollar volume of spending in 2002 devoted to facilities*: Capital, $10 million; Operational, $20 million. Number of professionals involved full-time in facilities*: 12 to 15. New Construction projects under way/completed in 2002: 10. Ranked No. 36 on the Fortune 100, with 2001 sales revenues reported at almost $38.8 billion, Merrill Lynch is one of the world’s leading financial management and advisory countries in 38 countries. Total client assets exceed $1.5 trillion. R J Reynolds Tobacco Company (2.6)
Winston-Salem, NC(336) 741-5500www.rjrt.com2.5 Office Buildings*: 600,000-plus square feet. Four Industrial Buildings*: 2 million square feet. Number of Professionals involved full-time in facilities*: 20-plus. Dollar volume of spending in 2002 devoted to facilities*: Capital, $1 million-plus; Operational, $5 million-plus. Modernization projects under way/completed in 2002*: 200,000 square feet. The second-largest tobacco company in the United States, manufacturing about one of every four cigarettes sold in the United States, Reynolds Tobacco has been recognized by Fortune as one of the “100 Best Companies to Work For” for the past two years.* 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; websites, both by specific company and industry related; and other published materials.

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