Looming large in the federal lease portfolio and in the minds of federal property investors is the “prospectus lease.” Numbering just over 200 nationwide, these are the GSA leases that exceed $3.095 million in annual levelized…
We originally discussed the history and implementation of the Automated Advanced Acquisition Program (AAAP) last year here on this blog. Originally created for the purpose of consolidating and streamlining the leasing process for a large volume of small leases, AAAP has evolved into a platform for awarding general office space requirements ranging from 5,000 SF […]
Kevin Warsh, a Federal Reserve governor during the Great Recession, noted in a Wall Street Journal op-ed earlier this year, “If you’ve seen one financial crisis, you’ve seen one financial crisis.” That is to say, all…
Which little-known federal agency has been home to four researchers who have won Nobel Prizes in physics (and one who received the Nobel Prize in chemistry)? The National Institute of Standards and Technology (NIST) made the news again this month (October 9), when Boulder, Colo.–based NIST physicist David Wineland (with French colleague Serge Haroche) became […]
# of Locations Total GSA Lease RSF Capitalized Value 0% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 50% 4% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 14% % Government Leased Government Leased RSF Remaining Total Term (Yrs) Remaining Firm Term (Yrs)
Several times on this blog I’ve observed that GSA has been engaged in a spirited game of can-kicking when it comes to leasing. Much of this has been due to intense budget distress from record deficits, rising…
Colliers recently issued a profile of the Top 25 U.S. office markets, which observed that net absorption fell into negative territory for the first time in a decade and vacancy rates posted their sharpest increase over…
With over 1,000 leased facilities, often in single-tenant buildings, the Social Security Administration (SSA) is a staple of many federal investor portfolios. Like other federal agencies, however, SSA has been dutifully implementing the “Reduce the Footprint”…
The title of a new report by the US General Services Administration (GSA), issued on January 30, 2020, speaks volumes: “Child Care Centers in GSA-Controlled Buildings Have Significant Security Vulnerabilities.” The 30-page report that follows, drawing…
As of last month, the Automated Advanced Acquisition Program (AAAP) still allowed GSA and interested landlords to enter into leases of 5 years, 10 years or 5 years with a fixed-price five-year renewal option. However, this…
We recently discussed the Bipartisan Budget Act of 2013’s (BBA) symbolic significance and implications for federal leasing. About $7.9 billion of the savings in the BBA are expected to result from asking companies with pension plans guaranteed by the Pension Benefit Guaranty Corporation (PBGC) to pay higher premiums for those guarantees. The PBGC is an […]
According to the U.S. Department of Energy, commercial buildings account for nearly 50% of all building energy use and about 20% of total energy consumption and greenhouse gas emissions nationwide. New York, Seattle, Boston, and a growing number of cities require or are developing benchmarking systems to track and improve building energy efficiency; the nation’s […]
“With COVID–19, basically, each home has become an enterprise.” So says Mark Pringle, senior vice president in charge of corporate real estate and global facilities at Dell Technologies and one of three outside authorities called on…
The U.S. General Services Administration (GSA) leases private property at a cost of billions of dollars—$5.7 billion annually, to be precise, spread out over more than 8,000 leases. Every year, the agency claims, it saves taxpayers…
