D.C. office landlords with over 200K SF of vacant space could soon compete to land the General Services Administration's latest consolidation.
The GSA is planning to issue a solicitation for 201K SF to combine three agencies currently in separate East End offices in an a effort to save taxpayer money, the Washington Business Journal reports.
The deal would consolidate the Court Services and Officer Supervision Agency, the Pretrial Services Agency and the Public Defender Service. The agencies currently occupy 209K SF across three offices at 633 Indiana Ave. NW, 601 Indiana Ave. NW and 1025 F St. NW.
A House committee voted Sept. 27 to authorize the consolidation. The GSA is looking to pay an annual rental rate of just over $10M, or roughly $50/SF, making it likely to land in older, Class-B buildings or emerging areas like NoMa, where the GSA has signed several leases in recent years.
The GSA has been looking for ways to save money as it handles a backlog of 28M SF of leases set to expire in the next five years. It is looking to save money by consolidating agencies and by signing longer-term deals that create better value.
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