WASHINGTON, DC-The Senate Committee on Environment and Public Works has signed off on federal lease prospectuses for several key agencies, including some deals that represent sizeable transaction in the local markets (hat tip to the Washington Business Journal).
For the DC area, not to state the obvious, these leases are fairly significant, Art Turowski, Jones Lang LaSalle's Senior Vice President of Government Investor Services, tells GlobeSt.com. He points to the National Science Foundation's as particularly of interest to local landlords, who have been waiting for approval for this lease to move forward.
The prospectus calls for 690,000 square feet for the agency, and allows for a new lease of $38 per square foot with a location in Northern Virginia.
The headquarters for the Fish and Wildlife Service, at 223,000 square feet, is another lease that landlords have being eying with some anticipation, Turowski says. "Both of those deals needed Senate resolutions and now that they have them, a lot of people are anxious to see the results."
© 2025 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.
