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“To manage the County’s real estate activities for the greatest benefit to the residents of
Prince George’s County”
To serve Prince George’s County through excellence in stewardship with a proactive approach to acquisition, deposition, leasing, and asset management services through stellar municipal services, and outstanding valuation provision by driving the “Highest and Best” use from its asset base, while providing exceptional customer service delivery. An essential component of this is by providing employees with modern, comfortable, safe, and professional work environments while embracing industry standards and best practices
Charged with managing Prince George’s County’s portfolio which exceeds four point seven million (4,700,000) square feet of County-owned properties in addition to more than three hundred thousand (300,000) square feet of private third party leased space, LARP impacts the operational and economic health of Prince George’s County. The County’s real estate portfolio includes facilities necessary to provide the basic functions of government, such as parks, police stations, fire stations, libraries, maintenance yards, and administrative office space, equaling a total of 96 facilities.
4 Core Real Property Focus Areas
- The Acquisition/Disposition Group provides cohesive real estate acquisition; leasing; development monitoring; and disposition services for Prince George’s County Government. The Acquisition Program acquires sites for public facilities, parks, open spaces, and rights-of-way for streets and utilities. After a property is no longer required for public use and determined to be surplus to core County mission, functions, and activities, and is deemed surplus for the County portfolio, the Acquisition/Disposition Group may dispose of the property.
- The Asset Management Group administers the County’s diverse Inlease and Outlease, license portfolio. It negotiates competitive market leases rates, performs abstract of leases, portfolio utilization planning, calculation of increases in lease rates, expense recoveries, and the administration of County commercial leases, or license agreements and permits for use.
- The Corporate Services Group is tasked with planning, organizing, and executing transactions that support all of the County’s facility needs. The division works with County agencies/ departments to determine space occupancy requirements and whether the requirements could be best accommodated through occupancy of County-owned properties, or third-party lease, or acquisition or development of a new facility.
- The Valuation Group engages vendors to provide opinions of value to support property dispositions, property acquisitions, market rental rates, market-rate adjustments, and bond offerings collateralized by real estate and all other County functions requiring real estate appraisal services.