The facilities management division of the general services department may execute on behalf of the state of New Mexico as lessor, from time to time, agreements of lease of all or any part of the real property on Cordova road in Santa Fe, New Mexico formerly held in the name of the penitentiary of New Mexico and now administered by the division to such persons on such terms and conditions and for such consideration as the division determines in the exercise of its discretion to be advantageous to the state of New Mexico; but no such agreement of lease shall provide for a term of more than five years from the date thereof unless first approved by the state board of finance.