GSA Renews 500K SF DEA Lease In Pentagon City
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The Drug Enforcement Administration will remain in its Pentagon City headquarters for at least 15 more years.
The General Services Administration announced Wednesday it signed a 511,487 SF lease renewal for the DEA at 600-700 Army Navy Drive, two buildings owned by the California State Teachers Retirement System.
The DEA's lease was set to expire Sept. 30. The renewal comes after the GSA launched a competitive procurement process in 2016 to seek a new home for the agency. PGIM Real Estate, which competed for the headquarters with its Victory Center property in Alexandria, filed a lawsuit in February after hearing of the GSA's plan to keep the DEA at its current home. PGIM has since put that property on the market after losing bids for the DEA and for the Transportation Security Administration.
The Pentagon City headquarters houses 2,500 DEA employees, a visitors center and a museum. The 15-year deal continues the GSA's push to secure longer lease terms that offer better value. The GSA said the DEA lease will save taxpayers $100M over the next 15 years. It didn't say whether the buildings will undergo a renovation as part of the deal.
“This project is another example of GSA's work to save taxpayer dollars through effective real estate management and provides our partners at DEA the space they need to better serve the American people,” GSA Administrator Emily Murphy said in a release.