We have written a lot on this blog about how the GSA-leased property market is getting smaller, a trend we expect to continue easily for the next few years. Yes, one day this trend may reverse itself but there are…
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Sales Market Insights – Year-End 2015
Attached is our review of last year’s federally leased property sales activity. Highlights from this report include: • Consolidation of leases, multi-agency occupancy, and relocation of leases to GSA-owned buildings continues to take place; • From…
Spotlight: Farm Service Agency
If the Farm Service Agency (FSA) sounds as if it might be some forgotten holdover of the alphabet-soup New Deal of nine decades ago, there is good reason. Although it was formally instituted only in 1996,…
Data Center Consolidation: Getting There, But Not There Yet
In 2010, the Office of Management and Budget (OMB), the fiscal watchdog within the federal government, issued an order requiring that federal agencies consolidate data centers in order to save money and reduce redundancies. Twenty-four agencies,…
A GAO Report Calls for Heightened Building Security
Last August 21, federal workers in the heart of Lower Manhattan saw a terrible situation: A disturbed man with a gun entered a building in which passports were issued and immigration cases decided. He killed a…
FBI Field Office Sales Revisited
In November 2013, I published a brief analysis looking at the cap rate trend for FBI field office sales tracked from the end of the Global Financial Collapse. FBI field offices are a good subject for this…
Where the Federal Leases Are
The U.S. government leases space all across the nation–including in some pretty remote locations. Yet, the bulk of federal government tenancy can be found in just 20 markets. The map above shows the 20 largest markets for U.S.…
Renewal Rents Usually Increase
There are few investors of GSA-leased properties who have not engaged in hand-wringing over renewal rents, even when buying properties years in advance of the lease expiration date. Normally when presented with the question of whether the…
Top 20 Office Markets
Colliers International issued this week its Top Office Metro Snapshot, the firm’s review of the 20 largest office markets in the U.S. The bad news for the federal government is that rents are now rising in…
Public Buildings Reform and Savings Act
On February 8th, Congressman Lou Barletta introduced a new bill (H.R. 4487) known as the Public Buildings Reform and Savings Act of 2016. Some aspects of the legislation relate to the Federal Protective Service and economic development…