WASHINGTON, DC—On Monday the General ServicesAdministration announced it has identified 19 buildings across the country into which it willencourage federal agencies to consolidate. Theinitiative is a long-standing goal of GSA's, KurtStout, executive vice president of the ColliersGovernment Solutions' national practice group, tellsGlobeSt.com.
"This reflects a line of think that has been growing at the GSAfor years," he says, "which is that GSA as a fundamental duty toreduce the real estate costs of the federal government and one keyway to do so is to consolidate into their owned space, which theyview as cheaper than leased space."
Local landlords perhaps used to hearing such vows from GSA inthe past-with little changing on the ground-should not be sanguineabout this latest pronouncement though. Stout says in the past GSAhas been constrained by a tight budget and found it difficult toget such projects to get off the ground.
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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.
