Florida Selling Off Reserved Land

MIAMI—With the population growing and expected to continue its rapid growth, the State of Florida is letting go of some previously reserved land to build on. Florida is selling these underutilized and surplus assets to allow the business community and developers to acquire land previously unavailable. The goal is to place the properties back into the private sector's hands to promote growth, jobs, and entrepreneurial opportunities.

The State of Florida Department of Environmental Protection (DEP) has hired CBRE as the exclusive agent to sell eight surplus properties totaling 1,364 acres located throughout the state. 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," says McShea, executive vice president 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."  

The properties are located in Hendry, Desoto, Hillsborough, Citrus, Indian River, Broward, Highlands, and Leon Counties. The properties include: Hendry Correctional Institution; Hillsborough Co. Correctional Institution; Indian River Correctional Institution; Broward County Correctional Institution; Florida Department of Highway Safety and Motor Vehicles Current Uplands Lease No. 3374; and the Tallahassee Road Prison.    

"This partnership creates a unique opportunity to optimize the Florida DEP's real estate holdings," says Korst, first vice president of CBRE and the firm's director of asset services. "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."