Editorial

Citation

Eriksson, C. (2009), "Editorial", Journal of Corporate Real Estate, Vol. 11 No. 2. https://doi.org/10.1108/jcre.2009.31211baa.001

Editorial

Article Type: Editorial From: Journal of Corporate Real Estate, Volume 11, Issue 2

In reaction to the global financial crisis and resulting economic downturn the majority of businesses are understandably implementing cost cutting initiatives in an effort to survive. No business sector has remained unaffected. The main challenges and priorities for companies currently revolve around reducing costs and managing cash flows while still maintaining market share and increasing productivity.

As one of the primary and ongoing expenses of many businesses, property and related costs are coming under particular scrutiny at present. In many instances companies have reacted to the ongoing economic downturn and subsequent rising unemployment levels by placing property expansion plans on hold, exercising break options, and/or sub-letting/assigning space as a means of controlling property related costs. As such, the papers in this edition of the Journal of Corporate Real Estate are very relevant to the current cost conscious business climate. The topic areas they cover include; driving value creation of a business through effectively managed property, valuation methodology from a CRE viewpoint, the design of effective CRE performance management systems, and, a toolkit for monitoring and promoting value during construction project phases.

In this edition of the JCRE we have continued our “Talking Heads” series with an interview of Professor Stewart Clegg, Director of ICAN Research and widely recognised as one of the leading global experts in change management. Also, the expert interpretation of the papers was undertaken by Dr Connel Bottom, PricewaterhouseCoopers, a Chartered Surveyor with specialist knowledge in the discipline of facilities management (FM) and an executive board member of the RICS FM Faculty panel.

The JCRE continues to strive to bring you the most up to date thinking on corporate real estate research. Our editorial board represents some of the best CRE thinkers in the world and we all aim to drive the field of CRE research forward. It is with great sadness that we learned that one such champion of corporate real estate research, property research and education in general, and an esteemed member of the JCRE Editorial Board, Professor James R. Webb, recently passed away in February last. James’ presence within the real estate world will be sorely missed, by colleagues and students alike.

Clare Eriksson