Earlier this week we wrote that Moodys had announced that it is considering a downgrade of U.S. sovereign debt, this following a similar downgrade by Standard & Poor’s last year. At that time, as now, federal…
Category: Investment
MetLife to Buy Constitution Center
As was recently reported in Real Estate Finance and Investment, MetLife is under contract to acquire Constitution Center for what could be the highest total price paid for a building in Washington, DC this year. David…
So, You Want to Invest in GSA-Leased Properties?
We are often asked to talk about the GSA-leased inventory and we enjoy doing it. In particular, investors and lenders challenge us to help them understand the true breadth of the GSA-leased property portfolio. How big…
Highwoods Pares Its Government Leased Property Portfolio
Highwoods Properties, Inc. (NYSE: HIW) has announced that it has sold three government leased properties encompassing 553,000 square feet for $86.5 million or $156.42 PRSF. While the pricing may appear somewhat low on a PRSF basis,…
Washington Office Center / Washington Design Center Sale
Today the Washington Business Journal reported that Vornado has selected a buyer for its Washington Office Center (409 3rd Street, SW) and Washington Design Center (300 D Street, SW) properties in Washington, DC’s Southwest submarket. The two…
GSA’s Inventory of Large Leases
This graphic is interactive, click here. (for Internet Explorer users, version 9 or above is required) Investors often ask us a variety of common questions about the market for GSA leases. They ask: “How many…
GSA’s Dwindling Lease Term
The government right now is, well, it’s in turmoil. That’s voiced as an opinion but it feels like actual, quantifiable fact. The United States is still fighting its way out of a deep and prolonged recession,…
Government-Leased Sales Trend
Most investors would probably agree that cap rates for government-leased properties are trending downward. We took a quick look at sales of government-leased properties (90+% leased by the federal government) over the past decade. The trend…
Long-Term, GSA-Leased Investment Opportunities Are Limited
The investment market for GSA-leased properties has become progressively robust as investors seek to place capital in long-term leased, stable assets. To the degree that these can be bought with 10+ years remaining (and a properly…