(Question) What sort of companies would have a Real Estate Division because their business is NOT real estate?
An example would be a Timber company. So, a company that owns acres, but their main source of revenue is not real estate.

Thanks for the HELP!
[{"id": "dbora2k", "text": "Large/midsized hospital systems that also have other healthcare facilities like physician offices, freestanding EDs, hospice, corporate offices, regional home health care offices, etc \n\nRailroads, utility companies, etc for right of way stuff\n\n", "replies": [{"id": "dborxlz", "text": "Thank You!", "replies": [], "depth": 2}], "depth": 1}, {"id": "dbosh3z", "text": "Large retail and restaurant chains. Starbucks in particular is known for investing heavily in real estate market research. \n\nMcDonald's had been described as a real estate company that happens sell hamburgers, etc", "replies": [], "depth": 1}, {"id": "dbovb9w", "text": "Chain retail, grocery stores etc. Walmart. HEB. Lowes.", "replies": [], "depth": 1}, {"id": "dbovmwi", "text": "Franchise companies for setting up locations. Also railroad companies", "replies": [], "depth": 1}, {"id": "dboxnc4", "text": "Every retailer with multiple locations has a real estate department with multiple employees to support that department depending on the size of the retailer. Starbucks or Mcdonalds probably have 100+ people that are employed by the company in the real estate department. Research, GIS, legal, deal makers, etc...", "replies": [], "depth": 1}, {"id": "dbp4k37", "text": "None of the retail people anyone is suggesting here actually *own* real estate.  If you are looking for a company that has a lot of interests in real estate that they *own*, the industrial/manufacturing/railroad examples that were given are the best.  Very few retailers also *own* real estate and most ~~retailers are franchises~~ **retail real estate** is owned by wealthy individuals ~~that may or may not own real estate depending on their size and plans~~ as an investment.  ~~Even then, most of those wealthy franchise owners have sold any real estate interests they have because cap rates have been so low and that type of real estate is pretty fluid as a commodity/investment.~~  ", "replies": [{"id": "dbpvfrk", "text": "This isn't completely true. Anchor retailers are often given or buy their land and own their store, and the developer of surrounding retailers benefit from their traffic volume. Small retailers often are leases, but big ones often aren't.\n\nMacy's was (is still?) facing a hostile takeover attempt due to the value of its real estate holdings. Many mall department stores own their real estate. Kroger's (Fred Meyer's/Harris Teeter) owns many of its grocery stores. Companies are bought all the time by private equity firms who see firms with real estate undervalued and spin out their real estate holdings.", "replies": [{"id": "dbpw3f4", "text": "Not sure my thought process on my first post.. cleaned it up to clarify my point a bit.", "replies": [], "depth": 3}], "depth": 2}, {"id": "dbpw7i8", "text": "McDonald's actually buys a lot of the land and then leases it to their franchisees. This gives them a lot more control over their franchisees. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dbp4opw", "text": "Most major corporations with a lot of people or locations have RE divisions. Account firms, movie studios, retailers. Hell even Amazon.", "replies": [{"id": "dbp96am", "text": "I think Amazon and all of the major tech companies are becoming fully engrained in real estate from both a leasing and purchasing point. While they may not advertise it, most of these companies have physical offices throughout the world. \n\nhttp://www.thisisinsider.com/amazon-seattle-biosphere-construction-tour-2016-8/#meanwhile-heres-an-official-amazon-recruitment-video-showing-off-its-urban-campus-16", "replies": [{"id": "dbra0nv", "text": "real estate is huge for logistics companies, which is super important for the mega retailers. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]