Within CRE, real estate refers to the commercial property owned or leased by a company for operational or strategic purposes. These properties can be industrial in nature, zoned for commercial, or mixed-use to serve other purposes within their community or region.
Facilities management (FM) is a subsection of Corporate Real Estate that integrates all the organizational elements within a company’s built environment. It consists of three main categories: organization and maintenance, site and workplace services, including workplace enhancement, and specialty services. Encompassed in these categories is the management of the many functions that make real estate operational, including everything from utilities and energy management, to food and janitorial services.
Put simply, facilities management helps to ensure the functionality, accessibility, environmental impact, comfort, and security of an organization’s built properties and guides future growth and optimization.
Project Services, as it relates to CRE, covers some of the larger jobs related to managing Corporate Real Estate, including project management, project management office (PMO), workplace consulting, D&C contracts, new build, fit-out, and more.
The final major component of Corporate Real Estate is corporate services, which is designed to further support operational efficiency by aiding with everything from document solutions, to aviation and fleets, to general travel, office services, and environmental, health & safety (EH&S).