The federal government, the largest occupier of commercial office space in the U.S., is re-evaluating its post-pandemic workplace strategy in a process that could lead to reduced footprints and depressed office demand in Washington, D.C., and across the country.
One of the buildings on the Patent and Trademark Office headquarters campus in Alexandria, the GSA’s largest office lease.
President Joe Biden’s administration in June directed federal agencies to draft long-term policies for their workplace and remote work strategies, and it told them to provide maximum flexibility.
Several real estate professionals who work with the federal government, including two former heads of the General Services Administration’s Public Buildings Service, told Bisnow they expect this directive will lead agencies to shrink their leased office footprints, a trend that could have massive ripple effects across the U.S. commercial real estate market.
Click here to read the rest of the article written by Jon Banister over at Bis Now