Colliers International has just released its 2014 Global Predictions Report providing key insights and trends impacting the world of commercial real estate in 2014 and beyond. 2014 promises to be an interesting year in the commercial property sector. For much of the world, even in many emerging economies, GDP growth this year is expected to be […]
The $302 million headquarters for the U.S. Army Forces Command (FORSCOM/USARC) and U.S. Army Reserve Command Occupying more than 251 square miles and covering parts of four counties (Cumberland, Harnett, Hoke and Moore) in southeastern North Carolina, Fort Bragg is one of the largest military complexes in the world. Recent BRAC-related construction there includes a […]
US Census Bureau Headquarters (photo: Eduard Hueber/Arch Photo, Inc./Skidmore, Owings @ Merrill, LLP) As we noted in a recent post, AIA DC (the Washington chapter of the American Institute of Architects) gave the U.S. Bureau of the Census headquarters a 2012 Award of Excellence in Architecture. Skidmore, Owings & Merrill (SOM) won the award for its […]
Earlier this month, the US General Services Administration (GSA) and Department of Energy (DOE) issued a joint request for information calling on vendors to propose innovative building technologies in support of federal guidelines and goals, or, as…
The U.S. Bureau of Reclamation, popularly known as BuRec, is not much heard of east of the Hundredth Meridian, but in the 16 mainland states to the west it plays a central role in managing water supplies. In fact, BuRec is the largest single wholesale supplier of water in the nation, supplying water to about […]
From Quincy, Florida, to Ketchikan, Alaska, field offices of the Social Security Administration (SSA) are being shuttered. Since 2010, 64 field offices have closed around the country, the largest number in the agency’s 79-year history. In addition, 533 temporary mobile offices have been shut down, and, in 2013, office hours were reduced in remaining locations. […]
Sen. John Cornyn (R-Tex.) Sen. John Cornyn (R-Texas) introduced a bill last week (Thursday, January 30) that would empower U.S. Customs and Border Protection (CBP) to enter into agreements with local governments or private entities to fund improvements at land ports of entry. The Cross-Border Trade Enhancement Act of 2013 (S. 178, a reintroduction of S. […]
Colliers International has just released its 3Q 2014 North America Office report. It notes that office demand is improving and the United States is on pace this year to create the most jobs since 1999. Further, office-using employment growth, at 2.8%, was even stronger than overall job growth. This was assisted by recovery in the FIRE sector. Indicative of the […]
Nakash Holdings (the investment arm of Jordache Enterprises) purchased 1301 New York Avenue from Boston Properties on August 22nd. The 201,281 RSF office building is entirely occupied by the Department of Justice (DOJ) under a GSA lease. The reported $135,000,000 ($670.70) price translates to an estimated cap rate between 5.2% and 5.4%, depending on how the […]
The General Services Administration (GSA) is typically referred to as the landlord for the federal government. On behalf of federal agencies it leases 191 million square feet in roughly 8,700 office, storage, lab and other types of leased locations across the United States and its territories (figures from when we conducted this analysis at the beginning of this […]
Which federal agency can claim (at least some) credit for more than 190 Nobel Prizes? The National Science Foundation (NSF) is an independent federal agency created by Congress in 1950 “to promote the progress of science; to advance the national health, prosperity, and welfare; and to secure the national defense.” It is the only federal […]
The graph above compares the percentage of leases containing termination rights to the percentage of non-cancelable leases. Data is derived from fiscal year-end snapshots of GSA data for all leases > 3,000 RSF. It is possible that no tenant in the United States has greater fondness for termination rights than the U.S. General Services Administration […]
Our investment sales team was especially prolific last week, issuing two new reports on the Washington, DC area property market. The 2013 Year End Washington, DC Capital Markets Report noted that many primary and secondary markets around the country saw markedly increased sales volume and pricing in 2013, yet performance of the Washington, DC metro region lagged slightly. Much […]
GSA is on track to complete a two-year, $39 million project to link the building systems at 39 of its high-energy-use buildings in Arkansas, Louisiana, New Mexico and Texas on schedule in October, Federal Times reported last week. Siemens Government Services is installing sophisticated building automation systems, including solar photovoltaic, irrigation and lighting-control systems, as well […]
