This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

State Of Tennessee To Drive $50 Million Cost Savings And Service Improvements In Five Years

NASHVILLE, Tenn., May 29, 2013 /PRNewswire/ -- Governments around the nation, like corporations, are challenged to do more with less. One innovative state, Tennessee, is seeking to achieve greater efficiencies across 10.5 million square feet of its real estate portfolio. To drive the most advanced assessment and implementation of portfolio strategy of any state known to date, Tennessee selected commercial real estate leader Jones Lang LaSalle to provide comprehensive facility management services for its state-owned and leased office facilities throughout Tennessee. This facilities management partnership is expected to save the State an estimated $50 million over the next five years.

"In our ongoing efforts to enhance Tennessee's government, we are implementing new strategies that allow the State to reduce costs and improve the work environment for our employees," said Steve Cates, Department of General Services Commissioner, State of Tennessee. "Real estate represents a significant opportunity to improve efficiency, enhance performance and save taxpayer dollars."

The State's objectives in outsourcing facility management services are to:
  • Reduce operating costs
  • Improve the quality and timeliness of services
  • Implement "best in class" real estate practices
  • Provide continuous innovation and leadership
  • Provide scalable and flexible energy and sustainability solutions for state buildings

Jones Lang LaSalle was hired in 2012 to assist in the implementation of Commissioner Cates' vision to reduce the state's real estate portfolio by more than one million square feet. Jones Lang LaSalle completed an in-depth facility assessment of 33 state buildings, covering 4.6 million square feet. A master occupancy plan also was completed, which contained recommendations for more efficient use and operation of state real estate. The plan identified under- and over-utilized properties and included recommendations to optimize the short- and long-term capital asset program.

The State launched Transforming Tennessee for Tomorrow (T3) – to move approximately 14,000 employees from expensive or outdated office space into more efficient and improved buildings. This program has resulted in updated office space, increasing employee productivity by significantly improving the work environment. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs