The State Worker: Private brokers to advise DGS staff in state building sale-leaseback

The State Worker

Chronicling civil-service life for California state workers

September 17, 2009

Private brokers to advise DGS staff in state building sale-leaseback

The Department of General Services has its own highly capable staff of professional real estate leasing and space rental staff to assist public agencies here and statewide.

Yet even that in-house group needs help, it seems, when it comes to the Governor's plan to sell 17 buildings located on 11 government properties in Sacramento, Los Angeles, Oakland, San Francisco and Santa Rosa.

The plan is for the eventual buyers to lease the buildings back to the state long-term in a slew of deals designed to raise cash to help reduce the budget gap.

This week, DGS issued a call for proposals. It wants to hire a commercial real estate broker or advisory firm to help with that what will be the largest state property deals in decades.

"Though we have a lot of experienced people working for us, the sale leaseback is new territory for us. We need a broker on board with experience and expertise to help us get the most value for the state," said DGS spokesman Eric Lamoureux.

To see the request for proposals for the brokers, click here. The deadline is Oct. 30. Lamoureux said the state is hoping to have the broker on the job by January.

To see what buildings are on the block, click here for a google map and details.

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