Real Estate Programs establishes policies and procedures and provides oversight for state leases and other real estate contracts for executive branch agencies and institutions of higher education. This process includes statutory approval of all leases; coordination with the state's contracted real estate brokers; maintaining the inventory of state-owned and leased property; annually reporting acquisitions, dispositions and lease summaries to the Capital Development Committee of the General Assembly; and development and administration of office space standards for leased space and strategic real property strategies.
While the state's leasing program is the largest single responsibility of Real Estate Programs, other areas of real estate activities are also included such as purchase of real estate for the state, sale or lease of state-owned real estate, and negotiation and execution of licenses, rights-of-way and easements, either on non-state land for the use of the state, or on state land for the use of private parties. All activities of Real Estate Programs exclude three areas of real estate activity that are specifically assigned to other agencies: 1) acquisitions by the Department of Transportation (CDOT), 2) acquisition or disposition of state land by the State Land Board, and 3) certain easements, rights-of way and vacant land leases and acquisitions by the Division of Wildlife or the Parks and Recreation Division of the Department of Natural Resources.
Additionally, Colorado statutes require that all acquisitions and dispositions of real estate by all agencies and institutions of higher education except the State Land Board and CDOT rights-of-way must be reported to Real Estate Programs. Real Estate Programs then uses this information to fulfill its statutory responsibility of maintaining a current inventory of all state owned real estate.
Contracted Brokerage Services
With limited exceptions, all state agencies and institutions MUST utilize contracted real estate brokerage services when leasing or purchasing property in any of the nine counties covered by the contracts (Contract Brokers). In turn, when requested by a state agency, Contract Brokers MUST provide the service. Regardless of the contractual obligation to utilize the Contract Brokers' services, Real Estate Programs has found that assistance from professional real estate brokers provides significant advantages to state agencies and institutions. In a leasing situation, the Contract Brokers' assistance up-front can save the agency time, money and frustration by assisting with needs assessment and space programming. In addition, the Contract Brokers' knowledge of the real estate market can help agencies find locations that meet their needs while assuring that state dollars are spent wisely. The Contract Brokers, in collaboration with the tenant agency, will conduct the negotiations with the landlord and/or its agent. In addition, the Contract Brokers will draft the lease and contract documents. There is no cost to state agencies and institutions for the Contract Brokers' services, but rather, as is the customary practice in the real estate industry, the Contract Brokers are paid a commission by the lessor/seller of the property where an interest in real estate is being acquired.
Real Estate Programs, through its authority under §24-30-1303, C.R.S. and §24-80-102, C.R.S., has contracted with real estate brokers in the seven county Denver metro area and in El Paso and Pueblo Counties to be the state's sole source agents for acquiring real estate interests.
Denver Metropolitan Area
(Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson Counties)
Jones Lang LaSalle
1225 17th Street, Ste. 1900
Denver, CO 80202
Contact: Barry Dorfman, Joe Hollister or Patrick Bolick
Colorado Springs and Pueblo
(El Paso and Pueblo Counties)
Grubb & Ellis/Quantum Commercial Group
101 N. Cascade Avenue, 2d Floor
Colorado Springs, CO 80903-1413
Contact: Mary Frances Cowan