CBRE HIRED BY STATE OF FLORIDA TO SELL UNDERUTILIZED PROPERTIES LOCATED AROUND THE STATE
Tallahassee, FL – February 24, 2014 –
CBRE has been selected by the State of Florida, Department of Environmental Protection as the exclusive agent for the sale of eight surplus properties totaling 1,364± acres located throughout the state of Florida. The state is selling these underutilized and surplus assets to allow the business community and public to acquire land previously unavailable. The goal is to place the properties back into the public’s purview to promote growth, jobs and private sector opportunities. Michael McShea and Lee Ann Korst from CBRE’s public sector practice will lead the marketing effort in collaboration with CBRE’s local market brokers on behalf of the Florida DEP.
"The sale of surplus real estate not only saves taxpayer dollars, but also places properties to new uses at the local level, sparking commercial economic activity," said Executive Vice President Michael McShea with CBRE’s Public Institutions & Education Group. "The DEP’s sale directly supports the State's directive to shrink the real estate footprint to reduce costs and bolster efficiency."
According to Lee Ann Korst, First Vice President, CBRE Director of Asset Services, "This partnership creates a unique opportunity to optimize the Florida DEP’s real estate holdings. We are excited to be working with the Department of Environmental Protection and look forward to jointly implementing a marketing plan that attracts potential buyers who will support the local communities and promote the long‐term needs of Florida’s citizens."
The properties are located in Hendry, Desoto, Hillsborough, Citrus, Indian River, Broward, Highlands and Leon Counties and consist of the following:
| • Hendry Correctional Institution | 12551 Wainwright Drive, Immokalee | 430+/- acres |
| • G. Pierce Wood Hospital | 5991 SE Highway 31, Arcadia | 499+/- acres |
| • Hillsborough Co. Correctional Institution | 11150 Highway 672, Riverview | 135+/- acres |
| • Citronelle | 2855 W Woodland Ridge Dr., Lecanto | 59.5+/- acres |
| • Indian River Correctional Institution | 7625 17th Street, SW Vero Beach | 99+/- acres |
| • Broward County Correctional Institution | 20421 Sheridan Street, Fort Lauderdale | 135+/- acres |
• Florida Department of Highway Safety and
Motor Vehicles Current Uplands Lease No. 3374 | 171 U.S. Highway 27 North, Sebring | 0.34+/- acres |
| • Tallahassee Road Prison | 2628 Springhill Road, Tallahassee | 6.3+/- acres |
About CBRE Public Institutions & Education Solutions Group
CBRE's Public Institutions and Education Solutions Group (PIES), based in Washington, DC, is a national division of the company that provides real estate services to federal, state, county, city and educational institutions. Please visit our website at www.cbre.com/pies.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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