- Collection:
- Georgia Government Publications
- Serial:
- ... Portfolio report.
- Title:
- 2023 Portfolio report.
- Creator:
- Georgia State Properties Commission, author.
- Publisher:
- Atlanta, Georgia : State Properties Commission
- Date of Original:
- 2023
- Subject:
- Georgia State Properties Commission--Periodicals.
Real property--Georgia--Periodicals.
Real property--fast
Georgia--fast
Georgia Government Documents--Serial - Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- state government records
- Type:
- Text
- Format:
- application/pdf
- Description:
- Began with FY 2015.
FY 2016 (Harvested on July 19, 2017 from gspc.georgia.gov); title from PDF cover (Georgia Government Publications database, viewed September 8, 2022).
FY 2020 (Harvested on January 12, 2021 from gspc.georgia.gov); (Georgia Government Publications database, viewed September 8, 2022). - External Identifiers:
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_1343956279-2023
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_1343956279-2023
- Language:
- eng
- Holding Institution:
- University of Georgia. Map and Government Information Library
- Rights:
-
FY 2023 PORTFOLIO REPORT SPC State Properties Commission REAL PROPERTY REAL SOLUTIONS
$25,000,000
REVENUE COLLECTED VS. EXPENDITURES
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0
2017
2018
2019
2020
2021
2022
2023
Revenue Collected Expenditures
SPACE ACTION REQUESTS BY TYPE
Renegotiation 12%
New 16%
Renewals 63%
Other 1%
Cancellations 8%
STATE STANDARDS FOR ADMINISTRATIVE SPACE
400
350
300
250
200
150
100
50
0
2016
2017
2018
2019
2020
2021
2022
2023
SQUARE FEET PER PERSON
SPC tracks the revenue derived from the sale and lease of state owned assets, compared to the cost of SPC's operations, showing a significant annual benefit to Georgians. FY23 $17.4M
SPC's Space Management Division received and processed 555 space action requests from State agencies.
SPC tracks the square footage per employee in leased space to drive efficiency in space utilization.
The State Properties Commission (SPC) is the real estate portfolio manager for the state and is responsible for the acquisition and disposition of all state-owned real property or real property interest with the exception of the Board of Regents and Department of Transportation.
Governor Kemp welcomes Rivian. On May 2, 2022 the Department of Economic Development announced the single-largest economic development project in State history. Rivian will invest $5 Billion in infrastructure improvements and create approximately 7,500 jobs. The State Properties Commission was instrumental in the property acquisition and subsequent ground lease of the 2,000 acre site.
PORTFOLIO SUMMARY
Total Buildings in Portfolio
13,912
Total Insured Value of Buildings $37.7 billion
Total Owned and Leased Land
891,360 acres
Total Leases in Portfolio
2,320
Total Square Footage of Leases
34,124,000
AGE OF BUILDINGS
0 - 20 Years 22%
51 Years and Over 31%
21-30 years 18%
31-40 Years 17%
41-50 Years 12%
PROPERTY ACQUISITION PRICE VS. FAIR MARKET VALUE
$80,000,000
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$0
2017
2018
2019
2020
2021
2022
2023
Total Average FMV Total Acquisition Price
ANNUAL BOARD APPROVED ACQUISITIONS AND DISPOSITIONS
140
120
100
80
60
40
20
0
2016
2017
2018
2019
2020
2021
2022
2023
Acquisitions Dispositions
FY 2023 EXECUTED LEASES
Lease Size (SF)
< 5000 5,001 - 15,000 15,001 - 30,000 30,001 - 90,000
90,001 - 516,753
Agency
Banking & Finance Community Affairs Community Supervision Defense Driver Services Human Services
Juvenile Justice Law Natural Resources Public Health Public Safety Revenue
Secretary of State Technical College System Veterans Service Vocational Rehabilitation Workers' Compensation
FY 2023 PORTFOLIO REPORT SPC State Properties Commission REAL PROPERTY REAL SOLUTIONS
FY 2023 LEASING SUMMARY
New/renegotiated leases signed
58
Annual rent of signed leases (first year) $6,338,000
Average rent per square foot
$12.27
MULTI-YEAR LEASES Multi-year leases executed Total value of leases
6 $17,253,000
Square Feet
SPC LEASE EXPIRATION SCHEDULE
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
All leases end of option periods
Multi Year Leases current expiration
MULTI-YEAR LEASE COST AVOIDANCE
Cost avoidance by the state year over year since gaining the MYL ability
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$0
2015
2016
2017
2018
2019
2020
2021
2022
2023