PGP Files Protest Over Search For New SEC Headquarters

100 F
The Sec's Current Headquarters At 100 F St. Ne, Next To Union Station

The General Services Administration's search for a new Securities and Exchange Commission headquarters could leave Property Group Partners with a major vacancy, but the landlord is putting up a fight.

A PGP affiliate filed a protest bid Oct. 12 with the Government Accountability Office over the search terms for the SEC, which is currently headquartered in a PGP-owned complex near Union Station, the Washington Business Journal reports.

The GSA in April received congressional approval to begin searching for a new 1.3M SF headquarters for the SEC, and in July the GSA released the official request for lease proposals. It is looking to keep the agency in D.C. Three sites likely in contention are the finalists for the now-stalled Department of Labor search, which included parcels in NoMa, Capitol Riverfront and Poplar Point.

PGP owns the Station Place complex next to Union Station, the current home of the SEC at 100 F St. NE, 600 Second St. NE and 700 Second St. NE. It is also developing the Capitol Crossing megaproject about a half-mile to the west.

The strategy of protesting GSA search requirements for a major headquarters move has worked for at least one D.C.-area landlord in recent years. Boston Properties protested the awarding of the Transportation Security Administration headquarters to Victory Center in Alexandria, resulting in a judge voiding that lease and the GSA ultimately selecting Boston Properties' Springfield site in April 2017.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

270-Unit Manassas Gated Community Sells: The D.C. Deal Sheet

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

Clarion Under Contract To Sell 18-Story Seaport Office Tower

Oil Company Expands Again At Cash Register Building

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

D.C. Sues To Block HUD Headquarters Move To Virginia

How Metropolis Is Bringing Parking Into The Future With AI And Recognition Technology

Ken Griffin Completes Takeover Of Brickell Block, Setting Stage For $2.5B Megaproject

Private Equity Firm Buys Former Texas Instruments Campus For New Headquarters