Civilian Property and Realignment Act
Jones Lang LaSalle brings you the public sector pulse on the Civilian Property and Realignment Act (CPRA). The CPRA seeks a more formal decision process around the consolidation, reconfiguration, lease and sale of Federal Government property. What does all this mean for public sector real estate?

If some form of the CPRA becomes law:

• Government will be incentivized or even mandated to reduce its footprint;
• Federal real estate activity may experience a near-term uptick in activity to include dispositions and consolidations, followed by lease acquisitions and realignments; and
• Negotiations for renewals will be more aggressive, with decreased space requirements and a preference towards tenancy in Government owned assets.

If no legislative agreement is reached:

• The GSA will continue its efforts towards optimizing utilization in key locations (e.g. GSA headquarters in Washington, D.C. is being reconfigured to serve 6,000 employees, versus the previous population of 2,500 with minimal expansion); but
• Incentives across federal agencies for finding efficiencies will remain status quo.

The pressure towards identifying and acting upon efficiencies in real estate extends beyond the Federal Government to states and localities – many of whom have already taken steps to review their entire portfolios at a strategic level – all seeking to find greater efficiencies by engaging private sector expertise.

View Chris Roth of Jones Lang LaSalle’s commentary.