Georgia State Properties Commission Selects Cresa to Manage Real Estate Portfolio

Cresa, the world's largest tenant-only commercial real estate firm, has been selected by the Georgia State Properties Commission (SPC) as one of two real estate service providers for the State of Georgia. The goal of the contract is to assist in maximizing efficiency and lowering occupancy costs across the State’s extensive real estate portfolio for the benefit of Georgia taxpayers.

Cresa will provide a range of integrated corporate services including Strategic Consulting, Transaction Management, Project Management, Lease Administration, and Workspace Planning.

In late 2012, Georgia voters passed Amendment 2, permitting the State to enter into multi-year lease agreements. Prior to the Amendment, only one-year leases were permitted. This change freed the SPC to take a more strategic approach to the real estate portfolio and to identify opportunities to cut costs.

”After a competitive process, we selected Cresa to assist with our real estate needs in light of its expertise,” stated Frank Smith, Deputy Executive Director, State Properties Commission. He added, “We expect Cresa to be an excellent advocate for the State, given its pure tenant representation platform.”

The Cresa account team will be led by Tom Tindall, Managing Principal; Cloteen Jasmin, Senior Vice President – Corporate Solutions; and Daniel Wagnon, a government real estate veteran with 12 years of experience in managing the State of Florida’s real estate portfolio. The account team has more than 50 years of combined experience managing corporate and governmental portfolio accounts including EIS, Georgia-Pacific, and the State of Florida.

“Since our firm is tenant-focused and service-oriented, rather than transaction-oriented, we will be providing a range of services that will advance SPC’s goal of more effective management of the vast portfolio of real estate leases across the state and will drive real cost savings for Georgia taxpayers,” said Tom Tindall, Managing Principal with Cresa.

“Because Cresa exclusively represents tenants, we understand and avoid the conflicts of interest that are common in our industry,” stated Cloteen Jasmin, Senior Vice President - Corporate Solutions. She added, “That is why in an independent survey of over 250 real estate users, conducted by the Watkins Research Group, Cresa was selected first in client satisfaction among our major competitors. When measured on ten factors deemed critical for effective client service, Cresa ranked first place in nine out of ten key factors.”

Daniel Wagnon added, “We are excited about the opportunity to facilitate SPC’s vision of being the national leader in State real estate portfolio management by exemplifying stewardship, accountability and integrity. The experience gained from managing the State of Florida portfolio will be highly beneficial to quick implementation of industry best practices in asset, space and transaction management.”

About Georgia State Properties Commission

As the State’s Real Estate Portfolio Manager, the Georgia State Properties Commission is responsible for the acquisition and disposition of all State owned real property and all real property interests. Additionally, SPC provides leasing assistance to State entities in the location of State owned or commercially owned space. Portfolio Management is comprised of three distinct, but coordinated programs: Asset Management, Space Management and Transaction Management.

About Cresa

Cresa is the world's largest tenant-only commercial real estate firm. In representing tenants exclusively—no landlords or developers—Cresa provides unbiased, conflict-free advice. Its integrated services cover every aspect of a real estate assignment, including strategic planning, employee demographics, workplace strategy, site selection, incentives negotiation, market research, transaction management, project financing, project management, portfolio management, and relocation services. Cresa offers clients customized solutions worldwide through more than 60 global offices. For more information, visit www.cresa.com.

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