A recent (March 21) decision by the U.S. District Court for the District of Columbia in a 25-year-old lawsuit against the government found that many federal agencies have been inaccurately reporting the number of unused properties…
Tag: Investment Sales
Plum Island for Sale?
Expatriat British novelist and travel writer Lawrence Durrell, writing in Reflections on a Marine Venus, described a “rare but by no means unknown affliction of spirit” that he dubbed “islomania.” “These are people,” he stated, “who…
USPS Facilities Closures: The Odyssey Continues
A plan to close hundreds of postal facilities and eliminate overnight delivery of first-class mail would not save as much as the U.S. Postal Service (USPS) has projected—according, at least, to the Postal Regulatory Commission (PRC),…
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…
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…
Excess Properties for Sale!
As we reported yesterday, the federal government—the biggest property owner in the United States—is now in the process of disposing of billions of dollars worth of properties that it no longer needs. While the disposal process is…
Federal Real Estate Sales on Track
The Office of Management and Budget (OMB) announced today that the Obama administration is on track to meet or exceed two major real estate–related goals. In June 2010, President Obama directed agencies to eliminate billions of…
Want to be a Lighthouse Keeper?
“I want to marry a lighthouse keeper And keep him company I want to marry a lighthouse keeper And live by the side of the sea…” For more than a decade, ever since the passage of…
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…