(Cynthia J. Hoffman is editor of Real Estate Forum magazine.)

HOLLYWOOD, FL-The Congressional review period for the 2005 Base Realignment and Closure Commission's report is coming to an end. As the deadline draws near, the focus for the US Department of Defense will be two-fold: first is to accelerate the disposition of bases tagged for closure or realignment. The second goal is to help local communities adjust to new growth where military installations are set for expansion.

So said Philip W. Grone, deputy under secretary of defense, installations and environment for the DoD, during an educational session yesterday at the National Association of Industrial and Office Properties' annual convention here. "Whether closing or realigning, our objective is to get those properties off federal books as quickly as possible," Grone said. According to the deputy under secretary, 25 major bases, defined as those with a military replacement value of $100 million or more, have been earmarked for closure. Another 26 installations are to be realigned.

He anticipates that by next May, the military's plans for dealing with the assets will be set into motion. In the meantime, the DoD will be examining a number of options including public sales of the facilities. "Each asset has its own dynamics," he stated. "We'll let the marketplace speak in terms of their value." Presently, each branch of the military is working with private-sector real estate advisory firms to help determine "the nature and value of each asset."