The Corporation as Landlord and Tenant
Increased cost of escalation clauses and greater corp concern with environmental and community matters have been creating greater corp interest in real estate; many large corps are using centralized, in-house real estate operations; IBM cited as example; Robert H Howe, pres of IBM real estate and construction div, estimates IBM owns or leases about 100-million sq ft of office, mfg and lab space in about 500 world-wide locations (L)
