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NACORE study: corporate RE execs optimistic.

NACORE survey: Corporate RE execs optimistic

If corporate real estate executives aren't exactly bullish on 1991, they're not growling about bear conditions either. The 1991 annual membership survey of NACORE (International Association of Corporate Real Estate Executives) shows that 77 percent of respondents expect to maintain or expand their portfolios in the year ahead.

Where is much of the new development action? In international markets: 48 percent of NACORE's respondents are involved in international real estate, as compared to 26 percent in 1989. Thirty-nine percent now have interests in Europe, 35 percent in North America (Mexico and Canada), and 31 percent in Asia. Of the surveyed firms, 13 percent plan European real estate expansion this year.

"Many Eastern European nations are seeking the infrastructure and industrial development at which Americans excel," said Executive Director Mark W. Hoewing. "Several of the leading U.S. companies have already made in-roads into this market."

Other opportunities exist in Western Europe where "similar business cultures facilitate dealings for American companies In nations with full infrastructure in place, demand for U.S. companies' presence with consumer goods and services is building."

Hoewing added that NACORE's West Coast membership is "clamoring for information on Asian markets, especially Japan." Nine percent of respondents active in Asia will expand that involvement this year.

On the home front, executives whose companies are active in the U.S. , Canada and Mexico also are focusing on improving existing assets over the next 24 months. The hot spots are The Southeast (34 percent), Northeast (31 percent), West (30 percent) and Southwest (28 percent). According to the NACORE survey, the Mountain States, Canada and Mexico will see a lesser amount of this action.

Corporate America's emphasis on upgrading and expanding real estate assets means a more demanding role for in-house real estate executives, Hoewing said "Whatever the corporations' primary business, real estate profoundly affects the bottom line Today's economic and environmental challenges make the real estate executive's insight, experience and corporate awareness more crucial than ever

NACORE represents some 2,000 real estate professionals responsible for developing facilities and managing assets for companies whose primary business is not real estate, including the manufacturing, hightech, financial, restaurant and retail industries. Survey results were based on responses from 23 percent of these executives.
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:International Association of Corporate Real Estate Executives, real estate
Publication:Real Estate Weekly
Date:May 15, 1991
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