The Division of Property Management & Construction (DPM&C) is the sole Division within the Department of Treasury responsible for leasing of office and warehousing space for all State agencies, sale and purchase of real property and the procurement and oversight of the design and construction of public building projects for New Jersey Departments and the New Jersey Building Authority. The DPMC manages a portfolio of over 700 capital construction projects with an estimated value of $1 billion. The DPM&C also oversees building management and maintenance programs for public buildings in Trenton's Capitol Complex, and in leased spaces occupied by various Departments throughout the State. In conjunction with its responsibilities for leasing of State-occupied facilities, the DPM&C manages the Central Rent Account with an annual appropriation of approximately $240 million.

The Division of Property Management and Construction was created in July 1997 under the Reorganization Plan No. 003-1997 which abolished the General Services Administration. The new Division merged the former Division of Building and Construction and Division of Property Management. The purpose of the plan was to promote economy, increase the efficiency of operations, consolidate property management and construction functions, and eliminate overlap and duplication of effort.

In accordance with N.J.S.A. 52:18A-34, the legal duties and powers of these former divisions were vested in the Director, Division of Property Management and Construction (DPM&C).