WASHINGTON, DC-The GSA has out a pre-solicitation noticelooking to lease between 455,000 and 508,038 square feet in theFoggy Bottom submarket of the District with a move in date of July2012. It wants a minimum of 380,000-square feet in a singlebuilding in a lease term for up to 15 years at an average askingrate of $42.08 per square foot.

The State Department request is a significant deal for its -rivaled by the 500,000-plus square feet the Justice Department hastaken at Constitution Square in NoMa. More typical transactions aresimilar to the US Parole Commission’srecent lease for 36,438 square feet at Sentinel SquareI/90 K St. in NoMa. The government agency will occupy a portion ofthe first floor and the entire third floor in the412,661-square-foot, 12-story building.

However, the DC real estate community is readying - happily -for more of these large sized transactions. The government has ahuge pipeline of space needs that will be coming to market over thenext few years. Some of these leases will be driven by newlegislation passed, such as the health insurance reform bill andthe financial overhaul, which alone stands to create hundreds ofnew regulations.


Some of these expected solicitations are still in the rumorphase, a source tells GlobeSt.com, others are about to be formallylaunched. Examples in both categories, this person says,, include 800,000 square feet divided between the Navy Museum and theNavy, 1.5 million square feet associated with the FBI, 750,000square feet from FEMA and the GPO with 300,000 square feet t o500,000 square feet.


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