WASHINGTON, DC-The Obama Administration is adding more federal properties to the list of 14,000 buildings it has already identified as excess and available to be sold to the private sector. Among the local properties to be included is a heating plant in Georgetown that hasn’t been used for ten years and a office building in Downtown Baltimore.

It is unclear how many more buildings will be added, although according to reports the additional properties are spread nationwide. “It looks like the government is shaking the tree a bit harder so a few more apples fall out,” Art Turowski, senior vice president at Jones Lang LaSalle, tells GlobeSt.com.  “It is becoming a pretty extensive list.”

As with the initial list, Turowski says much culling must be done through the list of properties to come up with a winning development proposition.

A rare example of the Obama Administration and Congress acting in tandem, the push to sell these properties has been steadily advancing through the legislative process. Earlier this month, the Transportation and Infrastructure Committee approved a bill that establishes an independent civilian commission, similar to the Base Closure and Realignment Commission that will make property recommendations to Congress.

The White House estimates that $15 billion would be saved over three years via the sale of these properties. All together, the federal government owns 1.2 million buildings that cost the government $20 billion a year to operate.

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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.