Article Excerpt:
TWST: We would like to begin with a picture of the principal activities of Trammell Crow Company.Mr. Sulentic: We are a real estate services company. Commercial real estate is our focus, primarily US domestic, but increasingly and significantly now, international. We serve two kinds of customers ' users of commercial real estate and investors in commercial real estate. The users include corporations, hospital systems, government and so forth that have facilities for their own use. Our investor customers include pension funds, advisors, REITs and insurance companies among others. The work we do internationally is primarily for our user customers. We are now working in over 20 countries. There's a lot of growth in this area. We primarily provide four types of service ' building management, commercial brokerage, project management and the business our company first started in development and investment. We develop all types of commercial projects. One of the significant things that sets us apart in the service we provide to our customers is that we are a top-tier provider in each of those four areas and have put the processes and systems in place to allow us to package those services for our customers, particularly the large users, and we package them in a way that they become outsourcing services to those customers.
TWST: Are any of your competitors structured the way you are?
Mr. Sulentic: There are several large companies in our sector, a handful
of them, five or six, and there are a couple of them that look quite a
bit like us, but for the most part, each of the companies in this sector
has its own flavor. Some are dominated by brokerage. Brokerage is about
a third of our revenues. It's a big, very important business to us, but
there are two or three of the biggest competitors in our sector that are
probably three-quarters brokerage. We and one or two others in this
sector have very large outsourcing businesses. We are pretty unique in
our development and investment business.
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