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> GSA may not sell all of the offices. The agency said in its statement that it “welcomes creative solutions, including sale-lease backs, ground leases and othe
by nxobject 2y ago
> GSA may not sell all of the offices. The agency said in its statement that it “welcomes creative solutions, including sale-lease backs, ground leases and other forms of public/private partnerships to drive the full optimization of our space.”
Selling the property only to rent it back, eh? The properties under consideration for sale include agency headquarters (HHS, GSA, DOL, DOJ, FBI), and not to mention scientific facilities (FDA), and unless Musk and Trump intend to fully close those departments or to make these departments remote-first...
- fluidcruft 2y agoBack towards the end of his first term, Trump started moving a lot of agencies out of DC. I think BLM was headed to Colorado etc. IIRC there was also talk of moving FDA back then.
- ibejoeb 2y agoThis type of arrangement isn't novel. Property is high and the space is underutilized. Sell high, lease the fraction that you need, and have the option to buy back at the end of the contract (often with the right of first refusal.) On your second point: it does look like there are going to be significantly fewer federal employees, so unless there are also going to be big relocation programs, most of these places are going to continue to be under capacity. It's not in anyone's interest to have these places locked up, especially in urban cores. edit: as usual, I'm curious what my error is here. Please explain. Thanks.