Business Facilities - July 2008 - (Page 51) As a result of this sale-leaseback, the seller was able to reduce its occupancy cost, eliminate the non-earning asset from the balance sheet, enhance operating flexibility through the various lease terms and redeploy capital back into its core business. In Europe, where companies have been extremely reluctant to sell property—particularly headquarters facilities—the dramatic growth of saleleasebacks represents a marked shift in attitudes. During the past five years, the European real estate market has been characterized by investment volumes and capital values at record levels and leasing markets with sustained demand and strong rental growth. Against this booming backdrop, corporate occupier activity in the capital markets has emerged as a key feature of this market. OUTLOOK FOR 2009 In the coming years, there will be more mandates in the United States and for U.S. multi-national companies for disposition of surplus real estate. The pressure to cut additional costs will be huge. With real estate capital still more attractive compared to general unsecured corporate debt, corporate sale-leasebacks will assume an increased slice of the investment pie. Most European markets will see rental growth, but at a far decreased rate to that witnessed in 2007. Globally, the “own vs. lease” question being asked with increasing frequency by ever more informed executives. As a result, we will continue to see increased activity in corporate saleleasebacks throughout the globe and especially in the U.S. As our economy as a whole continues to make strides towards correction, sale-leasebacks generally offer security for the investor to structure favorable debt terms as part of an acquisition. And sale-leasebacks offer corporations the opportunity not only to rebalance the lease vs. own equation in their portfolios, but to use sale-leasebacks as an alternative source of reasonably priced capital. ARE YOU PLUGGED IN? The editors of Business Facilities magazine and the brains behind Business Facilities LiveXchange— along with a few of our friends in the corporate real estate, location consulting, and economic development communities— will post new and interesting links, share thoughts, and discuss articles we’ve written. Join the conversation in our comments section. www.BusinessFacilities.com/blog BUSINESS FACILITIES 51 http://www.BusinessFacilities.com/blog http://www.BusinessFacilities.com/blog
Table of Contents Feed for the Digital Edition of Business Facilities - July 2008 Business Facilities - July 2008 Contents First Word Snapshots Corporate Moves: New York The 2008 Business Facilities Rankings Report 2008 Rankings: Biotech Blasts Off 2008 Rankings: Green with Envy 2008 Rankings: Warm Climate for Business Nanotech Looms Large in Pennsylvania Metro Spotlight: Inland Empire, CA Food Processing Sites: Providing Sustenance as Well as Nutrition Sale-Leasebacks: Easing the Credit Crunch Corporate Moves: Georgia Metro Spotlight: Albuquerque, NM Advertiser Index Inside LiveXchange Business Facilities - July 2008 Business Facilities - July 2008 - Business Facilities - July 2008 (Page Cover1) Business Facilities - July 2008 - Business Facilities - July 2008 (Page Cover2) Business Facilities - July 2008 - Business Facilities - July 2008 (Page 1) Business Facilities - July 2008 - Contents (Page 2) Business Facilities - July 2008 - Contents (Page 3) Business Facilities - July 2008 - Contents (Page 4) Business Facilities - July 2008 - Contents (Page 5) Business Facilities - July 2008 - First Word (Page 6) Business Facilities - July 2008 - Snapshots (Page 7) Business Facilities - July 2008 - Corporate Moves: New York (Page 8) Business Facilities - July 2008 - Corporate Moves: New York (Page 9) Business Facilities - July 2008 - Corporate Moves: New York (Page 10) Business Facilities - July 2008 - Corporate Moves: New York (Page 11) Business Facilities - July 2008 - The 2008 Business Facilities Rankings Report (Page 12) Business Facilities - July 2008 - The 2008 Business Facilities Rankings Report (Page 13) Business Facilities - July 2008 - 2008 Rankings: Biotech Blasts Off (Page 14) Business Facilities - July 2008 - 2008 Rankings: Biotech Blasts Off (Page 15) Business Facilities - July 2008 - 2008 Rankings: Biotech Blasts Off (Page 16) Business Facilities - July 2008 - 2008 Rankings: Biotech Blasts Off (Page 17) Business Facilities - July 2008 - 2008 Rankings: Green with Envy (Page 18) Business Facilities - July 2008 - 2008 Rankings: Green with Envy (Page 19) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 20) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 21) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 22) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 23) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 24) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 25) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 26) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 27) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 28) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 29) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 30) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 31) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 32) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 33) Business Facilities - July 2008 - 2008 Rankings: Warm Climate for Business (Page 34) Business Facilities - July 2008 - Nanotech Looms Large in Pennsylvania (Page 35) Business Facilities - July 2008 - Nanotech Looms Large in Pennsylvania (Page 36) Business Facilities - July 2008 - Nanotech Looms Large in Pennsylvania (Page 37) Business Facilities - July 2008 - Nanotech Looms Large in Pennsylvania (Page 38) Business Facilities - July 2008 - Nanotech Looms Large in Pennsylvania (Page 39) Business Facilities - July 2008 - Metro Spotlight: Inland Empire, CA (Page 40) Business Facilities - July 2008 - Metro Spotlight: Inland Empire, CA (Page 41) Business Facilities - July 2008 - Metro Spotlight: Inland Empire, CA (Page 42) Business Facilities - July 2008 - Metro Spotlight: Inland Empire, CA (Page 43) Business Facilities - July 2008 - Metro Spotlight: Inland Empire, CA (Page 44) Business Facilities - July 2008 - Metro Spotlight: Inland Empire, CA (Page 45) Business Facilities - July 2008 - Food Processing Sites: Providing Sustenance as Well as Nutrition (Page 46) Business Facilities - July 2008 - Food Processing Sites: Providing Sustenance as Well as Nutrition (Page 47) Business Facilities - July 2008 - Food Processing Sites: Providing Sustenance as Well as Nutrition (Page 48) Business Facilities - July 2008 - Food Processing Sites: Providing Sustenance as Well as Nutrition (Page 49) Business Facilities - July 2008 - Sale-Leasebacks: Easing the Credit Crunch (Page 50) Business Facilities - July 2008 - Sale-Leasebacks: Easing the Credit Crunch (Page 51) Business Facilities - July 2008 - Corporate Moves: Georgia (Page 52) Business Facilities - July 2008 - Corporate Moves: Georgia (Page 53) Business Facilities - July 2008 - Metro Spotlight: Albuquerque, NM (Page 54) Business Facilities - July 2008 - Advertiser Index (Page 55) Business Facilities - July 2008 - Inside LiveXchange (Page 56) Business Facilities - July 2008 - Inside LiveXchange (Page Cover3) Business Facilities - July 2008 - Inside LiveXchange (Page Cover4)
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