《What Every LeaderShould Know About Real Estate》.pdf

What Every Leader Should Know About Real Estate by Mahlon Apgar, IV LOOK AROUND YOU. If you’re on land, ters can take precedence over custom- you are in real estate. It is ubiquitous ers’ and employees’ preferences. The and indispensable. For most businesses, fi ve maxims discussed below – intended it is the largest or second-largest asset not for real estate specialists but for the on the books; yet, because it is every- leaders who guide them – highlight the L where, real estate is easy to take for issues that senior managers need to granted. And because it af ects every- understand. one – customers, employees, investors, regulators, neighbors – real estate is not Manage the Portfolio easy to manage. My aim in this article 1A company’s portfolio of real estate is to distill real estate maxims that will holdings should be more valuable to the help board members, executives, and enterprise than the sum of its individual others meet this challenge. sites. To ensure this, executives need a Business real estate is not merely high-level view of their real estate situ- an operating necessity; it’s a strategic ation, which they won’t get from the resource. But it rarely captures senior site-by-site analysis that is generally the management