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If the federal government wants to be successful in its effort to sell off many of its properties, it needs to act more like a business, says JLL government investor services managing director Joe Brennan, who's speaking at Bisnow's Federal Assets for Sale event this Friday at the Roosevelt Hotel. "We applaud the Feds, but ... they have to provide something a buyer is going to want to purchase."(Perhaps this is why our food-odor cologne biz never got off the ground.)
Joe Brennan and Tom Finan, Jan. 29, 2010, Willard InterContinental, DC
Joe (left, with Trammell Crow DC-area head Tom Finan at a BisnowGSA event last year) tells us a multi-year, comprehensive dispositioncampaign in the style of BRAC won't work. Instead, just sell that $400k building to a willing buyer now and realize the immediate gain. He adds that a property's commercial value comes from income flow or zoning potential. The assets the federal government wants to sell aren't typically income-producing properties, but imagine the sales potential on a waterfront utility station if the government changed zoning to allow hotel development. Speakers joining Joe: the GSA'sDesa Sealy, Edge Principal Advisors principal Jeffrey Walker, Cassidy Turley government services senior managing director Darian LeBlanc, and Arent Fox's Jon Bouker and Keith Styles. Sign up now; tickets are limited!