Colliers International has been selected by the City of Fort Lauderdale as exclusive adviser for the city’s real estate portfolio. Colliers’ mandate will encompass a review and assessment of all city-owned vacant or under-utilized property, and formulating a strategy to monitor and reduce operating costs and to dispose of surplus assets in line with its business objectives. The agreement will run for a one year period with the right to extend the contract for three additional one-year terms. The firm will advise the city regarding the best use and strategy for its several hundred properties as well as representing the City on a transactional basis.
“The City of Fort Lauderdale recognized the ongoing opportunity to optimize its real estate portfolio,” said Colliers’ Managing Director Ken Krasnow. “Efficient management of city assets not only optimizes day-to-day operations but can redirect and ramp up important resources in support of the City’s long-term infrastructure and investments, ultimately generating greater value for the citizens and stakeholders.The city’s strong market fundamentals creates a growing need for more office, retail, hospitality and industrial warehouse options and presents value-added opportunities for the city and its residents to consider in its long-term real estate strategy.”
