Real Property Assets
REAL ESTATE & LEASING SERVICES (REALS)
The Office of Management and Enterprise Services, Division of Capital Assets Management is statutorily charged with the responsibility for assigning all space in state‐owned and non state‐owned facilities, authorizing the amount of space to be acquired by agencies, and executing all leasing contracts on behalf of the agencies. The Administrator of the Division of Capital Assets Management has delegated these responsibilities to its Real Estate and Leasing Services (REALS) Unit.
Uniform leasing and space standards were established in 1989 in accordance with statutory requirements. The primary objectives of the leasing program are to ensure that the amount of real estate held by state agencies is consistent with their present and future needs, and that agencies obtain the best possible rental rates. These objectives are accomplished by the Real Estate and Leasing Services Unit through detailed space evaluations, evaluating requests for proposals, space planning to meet the user agency’s needs, approving space modifications, preparing lease documents, and negotiating rental rates, terms and conditions of leases on behalf of state agencies.