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Burlington Northern Santa Fe recently renamed its Property Management and Facilities Department the Corporate Real Estate Development Department to better reflect the unit's strategy and expanded responsibilities.
The department manages the railroad's real estate portfolio and land revenue, oversees facilities, and acquires and develops real estate.
"We want the real estate function to not just reflect the business strategy, but be a part of the business strategy," said Jim O'Neil, BNSF assistant vice president of corporate real estate development, in a prepared statement.
The department currently is reviewing the railroad's real estate holdings to identify other revenue-generating opportunities.
"In many metropolitan locations, BNSF owns real estate that is an excellent candidate for redevelopment because of surrounding development," said O'Neil. "This type of initiative … provides significant cash flow to possibly fund relocation of rail operations to a location that is better for BNSF from an operational perspective."
1/17/2005
Rail News: Rail Industry Trends
BNSF's real estate department changes name, but not charge to land more revenue
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Burlington Northern Santa Fe recently renamed its Property Management and Facilities Department the Corporate Real Estate Development Department to better reflect the unit's strategy and expanded responsibilities.
The department manages the railroad's real estate portfolio and land revenue, oversees facilities, and acquires and develops real estate.
"We want the real estate function to not just reflect the business strategy, but be a part of the business strategy," said Jim O'Neil, BNSF assistant vice president of corporate real estate development, in a prepared statement.
The department currently is reviewing the railroad's real estate holdings to identify other revenue-generating opportunities.
"In many metropolitan locations, BNSF owns real estate that is an excellent candidate for redevelopment because of surrounding development," said O'Neil. "This type of initiative … provides significant cash flow to possibly fund relocation of rail operations to a location that is better for BNSF from an operational perspective."
