If President-elect Donald Trump wants to accelerate the government’s downsizing of its office footprint to cut costs, he’ll have plenty of opportunities.
The General Services Administration’s headquarters at 1800 F St. NW, Washington, D.C.
Roughly 52% of the federal government’s leased office portfolio either has lease expirations or termination options between now and the end of 2028, according to an analysis of General Services Administration data from S&P Global Ratings.
The majority of that space is from expiring leases, totaling about 59.2M SF, while another 18.5M SF has termination options.
“The GSA is going to be very busy from now through the end of 2028, not just in the national capital region but on a national basis, because the sheer number of leases expiring is massive,” Cushman & Wakefield Executive Vice Chairman Darian LeBlanc, a top government office leasing broker, told Bisnow.
Click here to read the rest of the article written by Jon Banister over at Bisnow
