Marble steps and columns crowned in the Corinthian order, yes. Great battleship-like masses of bare concrete, no. So demands an executive order issued from the White House on December 1, 2020, shorthanded as the “beautiful buildings…
Capitol Markets
Issues and analysis relating to government leased and owned property
Near-Record Sublease Space Indicative of Market Weakness
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…
Long-Term Leased Assets Now More Plentiful, Yet Older
From its peak in 2013, the number of long-term GSA-leased properties declined steadily for four years before stabilizing. But only in the past year has that portion of the property inventory started to recover. This trend…
GSA’s Progress Toward Long-Term Leasing
GSA’s effort toward execution of long-term leases has been a popular topic among investors. Going back to the earliest days of this blog, we observed that the remaining term of GSA leases was dwindling. When GSA…
Cutting Leasing Expenses in a Time of COVID
“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…
U.S. Office Absorption Turns Negative for the First Time in 10 Years
In the category of not-unexpected-but-still-bad-news, Colliers issued its Q2 2020 Office Market Outlook last week reporting that U.S. office absorption turned negative for the first time in a decade. National office demand was negative 13.6 million…
A GSA Audit Faults Its Public Buildings Service for Rampant Lease Extensions
The Public Buildings Service (PBS) is the largest public real estate organization in the United States, under whose aegis more than 1.2 million federal employees are provided with workspaces. The agency, a branch of the federal…