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Separately, the agency has substantially reduced its workforce as part of broader government directives.

For the most part, we haven't seen return-to-office mandates translate into leasing demand.

A persistent upward trend in cap rates reflects high borrowing costs and inflationary pressures.

Rent growth ranges from about 2.5% in Portland to about 11% in Northern New Jersey.

The 36-story building contains a mix of hotel rooms, medical clinics, and staff residences.

However, leasing is picking up momentum.

Office attendance is improving but it's far from a return to pre-pandemic times.

It would also include more than 350,000 square feet of facilities.