Nearly three weeks after the General Services Administration posted a list of 443 properties planned for disposition — and then promptly took it down — the agency has put up a new slate of buildings in its place
The original noncore asset page, which for the past few weeks read “coming soon,” now lists eight properties that it says are slated for “accelerated disposition.” The properties across seven states total just over 2M SF.
Each of the properties had already been announced for disposition in prior slates released during the Biden administration, according to past press releases. None of the properties were part of the 443-asset list posted on March 4.
The page invites interested parties to submit nonbinding term sheets to a GSAemail address and says that it will “post additional assets regularly.”
“This initiative aims to engage the market, attract interested parties, and inform strategies that will expedite the disposition of federal assets, consistent with all applicable laws,” a GSA spokesperson said in a statement to Bisnow.
On a frequently asked questions page attached to the new list, the GSA said it decided on a more “incremental approach,” focusing on a shorter list of assets that have “already been evaluated.”
“Due to the overwhelming response that we received after publishing the first list, we are refining our process,” the page says.
The GSA didn’t give any indication as to what it means by an “accelerated timeline.” In its FAQ answer about how fast the buildings could sell, it details the GSA’s typical disposition process: offer an asset for use by any federal agency, and if it is still considered unneeded, dispose of it through a public benefit conveyance, negotiated sale or public sale.
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