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WASHINGTON, DC-President Barack Obama will sign a memo Thursday that will require federal agencies to eliminate $8 billion in building costs by the end of the 2012 fiscal year, according to the Washington Post.

The order is for the federal government’s nationwide real estate holdings. Government operations in the Washington, DC area, however, will no doubt be closely scrutinized. Besides selling off the approximate 14,000 vacant buildings that the government owns or consolidating the 55,000, or so, that have been deemed underutilized, the new order is also likely to mean a stepped up aggressiveness in how GSA negotiates leases with private sector landlords.

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