WASHINGTON, DC-Jones Lang LaSalle has won a five-year contract with the National Aeronautics and Space Administration to perform services and develop real estate strategies, GlobeSt.com has learned exclusively. The value of the exclusive contract, signed with the Technical Capabilities & Real Property Management division of NASA, is up to $10 million.

As NASA owns most of its real estate, JLL will be focusing on activities like trades, transfers, outgranting or out-leasing and ingranting or in-leasing, JLL managing director Kurt Haglund tells GlobeSt.com. However there is also a strategic element to its role as well. “What we will be spending much of our time doing is looking at all the different parts of their unique portfolio and figuring out, for them, how to best use those real estate assets,” Haglund says.

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NASA currently controls more than 100,000 acres of real estate property and approximately 3,000 buildings and 3,000 other structures, for a total of more than 44 million square feet. Many of these structures are obviously unique and will require some innovative approaches if NASA is to monetize them. “In some cases this might entail leasing those assets to the private sector,” Haglund says. “We will do a business case analysis about what they should keep and how each asset could best be used.”

NASA has several unique federal authorities that allow it to use its real estate for both federal purposes as well as in service to the private sector, Haglund explains. Also, he adds, JLL will get involved in any Congressional inquiries about NASA’s decisions regarding its real estate. “At its core, NASA is a world renowned science, technology and engineering organization with great real estate to support it. Now that its mission is changing we will look at their assets and align them with their new mission.”