Stout, along with Charles Dilks, vice president, and KeithLavey, vice president, facilitated the transaction. Even if thelegal and financial issues surrounding that project do straightenout, there is a possibility that NOAA would maintain a presence inits current building. The building owners, Stout says, are hopefulthat might happen.

In general, the federal government is proving, once again itsworth to the District – NOAA's contracting issues and how they mayhave impacted Opus East aside. The Department of Agriculture, forexample, just inked a330,000-square-foot deal at Patriots Plaza III. Stout saysthere is more than one million square feet of GSA leases currentlylooking for space. More will be joining - the Department ofHomeland Security released a prospectus for one million square feeta few weeks ago, which could be one large lease or two or threesmaller ones, Stout says. GSA will start looking at properties forthat deal shortly.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.