Letter from IAMC Chairman Jack Brophy
IAMC People
and Projects
New Members
on the Rise
Conference Adopts Agile Leadership Theme
IAMC Board Members
IAMC web site
NEWS
The firm most recently initiated and helped structure a pan-European sale/leaseback deal on behalf of European engineering corporation ALSTOM. It involved the company's entire U.K. portfolio of some 19 properties, sold for approximately US$190.7 million, with an average lease period of 13 years.
The firm also advised on the company's $131-million sale-leaseback of some 16 properties across Europe totaling 3.25 million sq. ft. (301,925 sq. m.), with an average lease of nine years. In addition, a further $92.6 million of sales have been completed.
| As of June 5, IAMC membership had reached 239. Their quality is even more impressive than their growing numbers. Among the actives registered for the Palm Harbor conference, 74 percent represent companies with more than 5,000 employees, with 30 percent having payrolls of 50,000-100,000 employees. A full 50 percent represent companies with assets valued between $10 billion and $50 billion, and 65 percent of those companies had 2002 revenues between $1 billion and $10 billion. |
"In many ways, IAMC's approach to corporate real estate strategic advice played a major role here," says Blausten. "To get the senior executives to take ownership of this project when real estate never, ever featured at the boardroom table needed business sectors, human resources and finance and legal departments to buy into the concept." In fact, says Blausten, "so important was the impact that real estate has become a key factor in the corporate recovery plan of the company."
The huge and deadly storm system that wreaked havoc across so much of the Midwest and South in May inflicted some of its worst damage on the town of Jackson, Tenn. The home of operations from such companies as Masco's Delta Faucet division (see cover story, p. 431), International Paper, and Kaiser Aluminum, Jackson was recently announced as the location for a new plant from the Toyota subsidiary Bodine, and a large industrial site in town has been prominently mentioned several times as a front-runner for a mega-project.
What Jackson experienced on May 4, however, was mega-destruction. Among the hardest hit was a 1,200-employee snack food plant operated by Procter & Gamble. Shut down by roof and water damage, the plant still had not regained power five days later. Only 200 employees were present when the tornado struck at 11:30 p.m. on Sunday, May 4.
"Our teams are effectively managing through this crisis and we are close to being fully back up and running!" wrote P&G real estate manager Cash Smith before getting back to his real work. The company's director of real estate, Todd Hamiter, is an IAMC member.
Before the week was out, P&G was already reporting that its fourth-quarter sales could be affected by as much as 1 percent because of the downtime of the plant, which makes Tarengos and Pringles chips. However, insurance covering the business disruption was firmly in place, and the company planned to meet earnings forecasts for the quarter ending June 30. The two chip products generate around $1 billion in annual sales.
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Linda Carlisle, director of brand development, says the facility is part of a broader hub-and-spoke strategy that is just beginning to unfold. Processing capacity will increase by approximately 40 million packages per year.
"The demand originating from and destined to the Northeast continues to grow," says John Campanelli, R.R. Donnelley Logistics president, "and our capabilities need to grow ahead of demand."
Look for in-depth coverage of Donnelley's network re-working in the Logistics Spotlight in the September 2003 issue of Site Selection.