Bank of America, BP and San Diego Regional Economic Development Corp. Receive Innovator’s Awards from CoreNet Global

SAN ANTONIO – CoreNet Global, an association of corporate real estate executives, announced the winners of the fifth-annual Global Innovator’s Awards at the group’s CoreNet Global Summit taking place in San Antonio, Texas Nov. 6-10.

Bank of America, BP and the San Diego Regional Economic Development Corp. were selected from a group of 10 finalists, made up of service providers for the corporate real estate industry, end users and economic development executives.

The eight-month competition focuses on innovation in workplace management, portfolio optimization, technology, integrated infrastructure solutions, customer relations management, effective alliances, service delivery, economic development and strategic planning. Each of the finalists presented case studies before an industry panel at Harvard University this summer.

Bank of America earned an award for a sale-leaseback to American Financial Realty that 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 and leased back approximately 65% of the space over a 20-year time frame. The total lease value is over $2 billion.

BP received an award for its embodiment of 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 information technology, human resources and facilities management.

The San Diego Regional Economic Development Corp. was recognized for its unique alliance of local businesses, government and educational institutions to nurture economic growth and employment opportunities in the San Diego area. The group’s goal is to retain human infrastructure to meet the future needs of the life sciences, space and defense, electronics, communications and software companies in San Diego.

Finanlists for the 2004 Global Innovators Awards, sponsored by Equis, Deloitte and Gensler, also include: o Royal Bank of Scotland o Shell Real Estate o Whirlpool o Bechtel Telecommunications o Deloitte o Land Securities Trillium o Purdue Research Foundation.

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