While details of the preferred-provider agreement vary dependingon the sources, GE's director of corporate real estate, HarryStein, tells GlobeSt.com that the first stage of the agreement,which encompasses roughly 3,000 properties nationally, will focuson leasing transactions. "In this stage, we're concentrating juston transactions," he says. "We're not addressing otherservices."
The deal includes office and industrial space, medical space andNBC studio space, says David Kontra, manager of operations for GEReal Estate. Details of the recent Vivendi and Transamerica dealswere not nailed down in time for inclusion in this agreement, hesays.
Stein also revealed that, with the national contract now inplace, GE will turn to the creation of a similar structure inEurope. "We hope to have something in place by the end of theyear," he reports. Globally, GE has a portfolio with "about 7,500assets," Kontra estimates.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
