WASHINGTON, DC-The federal agency General Services Administration (GSA), which controls nearly 380 million square feet of owned and leased realty assets, is struggling to trade its obsolete and empty properties due to the economic downturn.
The average proceeds per year from all GSA Assets sales between 2008 and 2010 were nearly $122.8 million, and the average number of assets traded was 223 in which online auctions accounted for about 80%. The remaining assets were marketed via live auctions and sealed bids. For the full story, go to Wall Street Journal.
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