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NEW YORK CITY-New York State is facing a $9-billion budget shortfall for next fiscal year, while New Jersey Gov. Chris Christie recently killed a planned trans-Hudson rail tunnel on grounds that the state couldn’t afford billions in possible cost overruns on the project. It’s against this backdrop of fiscal constraints that Jones Lang LaSalle is ramping up its public institutions platform, hiring Patrick Flinn to head up the practice for the Northeast.

Flinn, who comes to JLL after spending eight years on the other side of the public/private divide, agrees that now is an opportune time for JLL to step up its game in this arena. “We foresee that the way these entities are going to survive is by being creative about their real estate portfolios,” he tells GlobeSt.com.

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