City of Fort Lauderdale Appoints Colliers International as Real Estate Advisor
Following a competitive procurement process, the City of Fort Lauderdale has appointed Colliers International as the City’s real estate advisor. The award of contract was finalized on August 22, 2017 during a meeting of the City Commission, for a contract term of one-year, with the right to extend the contract for three additional one-year terms.
Colliers’ mandate will encompass a review and assessment of all City-owned vacant or underutilized property and programmatic strategy to monitor and reduce operating costs, dispose of surplus assets and align the City’s real estate footprint with current and future business objectives. The firm will advise the City regarding highest and best use and strategy for several hundred properties comprising the portfolio including as well as represent the City on a transactional basis.
The Colliers International South Florida team is anchored by Managing Director Ken Krasnow, dedicated City of Fort Lauderdale Account Manager Brooke Berkowitz and South Florida Research and Consulting Manager Verity Mosquera. They are supported by more than a dozen multi-disciplined professionals based out of Colliers’ Fort Lauderdale office.
A key differentiator to the Colliers team approach is the wide range of specialized property experience, hand-selected to address the range of property types found within the City portfolio. Experts from the firm’s Government Solutions Group, Affordable Housing Group and Hotel Services and Marinas Services complement professionals specializing in Office, Retail and Industry property types.
“The City of Fort Lauderdale recognized the ongoing opportunity to optimize its real estate portfolio and this contract represents a proactive approach to just that,” said Colliers’ 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 dynamic transformation of Fort Lauderdale has accelerated in 2017 as the completion of major infrastructure projects are advancing. Fort Lauderdale-Hollywood International Airport continues to expand and modernize its terminals and add new restaurants to its facilities that in turn increase the number of flight routes and visitors to the City. The City is also on the cusp of the Brightline high-speed rail launch that will link downtown Fort Lauderdale to South Florida’s two major Central Business Districts allowing commuters to efficiently travel between cities. Improvements in transportation and connectivity have been key to driving continued and sustainable growth in the City.
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