Division of Real Estate Services
The Division of Real Estate Services (DRES) oversees the Commonwealth's extensive portfolio of land and buildings.
This includes 360,000 acres of land in over 1,000 locations; 12,000 buildings; and 117 million square feet of space. Additionally, Virginia leases approximately 16 million square feet of rental space in 1400 locations with annual rental amounts of $145 million.
The division was created to make state real estate management practices more consistent with those in the private sector. By doing so, Virginia is creating a streamlined approach that will replace inefficient, decentralized systems - potentially saving taxpayers millions.
- Develops short- and long-term real estate portfolio strategies for the Commonwealth
- Monitors occupancy and efficient utilization of leased and owned real property
- Reviews and executes real property transactions (lease, purchase, sale, granting of easements)
- Establishes policies and procedures for acquisition, disposition, and utilization of state-owned and leased real property
- Sells surplus real property
- Administers statewide contracts for outsourced real estate services
For more information on this Division, its services, and capabilities, click here.