A Sneak Peek at the Next Round of Prospectus Resolutions

Earlier this month we reported that a dozen prospectus resolutions had been added to the House Transportation and Infrastructure Committee mark-up agenda – and then removed the day before the meeting.  Their appearance tantalized us with the prospect that these resolutions would finally be approved.  Alas, it was not to be.

Since we snoop around the T&I committee website fairly regularly we were lucky to have visited during the brief period that the draft resolutions were posted.  Having seen them ourselves we can share a sneak peek.  All of these prospectuses require that the GSA also attempt to negotiate a purchase option that can be exercised at the end of the firm term of the lease.  This introduction of a purchase option requirement in prospectus resolutions is a fairly recent stipulation imposed by this 112th Congress.

U.S. Joint Forces Command, Suffolk, VA
The resolution authorizes a lease renewal option for up to 320,825 RSF at a proposed annual cost of up to $5,011,287 for a lease term up to 5 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 52 USF or less per person.

General Services Administration, Philadelphia, PA
The resolution authorizes a replacement lease for up to 172,000 RSF at a proposed annual cost of up to $5,848,000 for a lease term up to 20 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 107 USF or less per person.

Bureau of Public Debt, Parkersburg, WV
The resolution authorizes a superseding lease for  up to 284,209 RSF at a proposed annual cost of up to $5,527,865 for a lease term up to 20 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 179 USF or less per person.

Financial Management Service, Hyattsville, MD
The resolution authorizes a lease extension for up to 327,000 RSF at a proposed annual cost of up to $8,502,000 for a lease term up to 5 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 148 USF or less per person.

Consumer Product Safety Commission, Bethesda, MD
The resolution authorizes a replacement lease for up to 124,000 RSF at a proposed annual cost of up to $4,340,000 for a lease term up to 15 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 130 USF or less per person.

Immigration and Customs Enforcement, Phoenix, AZ
The resolution authorizes a consolidation lease for up to 131,000 RSF at a proposed annual cost of up to $5,305,500 for a lease term up to 15 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 100 USF or less per person.

Defense Security Cooperation Agency, Arlington, VA
The resolution authorizes a replacement lease for up to 87,000 RSF at a proposed annual cost of up to $3,306,000 for a lease term up to 20 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 141 USF or less per person.

Immigration and Customs Enforcement, Houston, TX
The resolution authorizes a consolidation lease for up to 144,000 RSF at a proposed annual cost of up to $4,104,000 for a lease term up to 15 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 100 USF or less per person.

Internal Revenue Service, Covington, KY
The resolution authorizes a replacement lease for up to 414,000 RSF at a proposed annual cost of up to $9,108,000 for a lease term up to 10 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 105 USF or less per person.

Federal Bureau of Investigation, Atlanta, GA
The resolution authorizes a lease consolidation for up to 191,156 RSF at a proposed annual cost of up to $5,925,836 for a lease term up to 20 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 105 USF or less per person.

Office of Justice Programs, Washington, DC
The resolution authorizes a replacement lease for up to 292,173 RSF at a proposed annual cost of up to $14,316,477 for a lease term up to 15 years.  The resolution stipulates that the tenant agency conform to a utilization rate of 128 USF or less per person.

Purchase of 4700 River Road, Riverdale, MD
The resolution authorizes the exercise of a purchase option for 4700 River Road in Riverdale, MD at a proposed purchase price of $31 million (this building is occupied by the Food and Drug Administration).

We have a pretty good grip on the back-story relating to each of these proposed transactions.  Contact us if you have any additional questions.

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