SAN ANTONIO November 9, 2004 CoreNet Global, the world s leading professional association of corporate real estate executives, today announced at the CoreNet Global Summit in San Antonio, Texas the three winners of the highly coveted and closely contested Global Innovator s Awards, which honor the best in the commercial real estate profession.
The winners, Bank of America, BP and the San Diego Regional Economic Development Corporation, were selected from a group of ten finalists. The finalists are an elite group of the corporate real estate profession s service providers, end users and economic development executives.
Bank of America earned a Global Innovator s Award for its sale/leaseback, big deal, which resulted in a 10% decrease in the size of the bank s portfolio between 1999 and 2003. Bank of America sold 158 buildings to American Financial Realty and has leased back approximately 65% of the space over a 20-year time frame. The total lease value is over $2 billion.
BP is taking home a Global Innovator s Award for embodying the triple bottom line principles of social, financial and environmental corporate responsibility. In constructing a new facility in Angola two years after the end of a prolonged civil war, BP hired local suppliers, bought local materials and ran its building as a green office. BP has extended the commitment to its suppliers, in addition to integrating the green approach internally among other shared services partners in IT, HR and Facilities Management.
A third Global Innovator s Award went to the San Diego Regional Economic Development Corporation. They formed a unique alliance of local businesses, government and educational institutions to nurture economic growth and meaningful employment opportunities in the San Diego area. The strategy is to retain human infrastructure to meet the future needs of the life sciences, space and defense, electronics, communications and software companies that are so prevalent in the San Diego area.
The Global Innovator s Awards program, now in its fifth year, is designed to identify innovative and actionable practices in commercial real estate, create visibility for CoreNet Global members and contribute to the corporate real estate profession through the sharing of information among peers.
The Global Innovator s Awards, sponsored by Equis, Deloitte and Gensler, are bestowed after an eight-month competition for innovation in workplace management, portfolio optimization, technology, integrated infrastructure solutions, customer relations management, effective alliances, service delivery, economic development, strategic planning and more. Each of the finalists presented case studies before an industry panel at Harvard University this summer. The 2004 Global Innovators Awards finalists also include:
About CoreNet GlobalCoreNet Global members manage US $1.2 trillion in worldwide corporate assets consisting of owned and leased office, industrial and other space. With 7,500 members representing large corporations around the world, CoreNet Global (www.corenetglobal.org) operates in five global regions: Asia, Australia, Europe, Latin America and North America, including Canada.