Cost cutting continues to hit Washington, DC with President Trump’s Department of Government Efficiency (D.O.G.E.) works its way through the vast bureacracy that is the Federal goverment. It’s been reported for a number of weeks that many of the building that the goverment owns have been used very little over the past several years. Trump is looking to sell as many as 443 buildings. 80 million square feet might be coming up for sale.
These buildings are considered “non-core buildings” and they are across 47 states. The General Services Administration (GSA) is responsible for unloading the space. Apparently it will be posted on the GSA’s website.
This comes as reports of a rapid rise in homes for sale in the DC area as a response to the slash and burn attitude that the new adminstration is taking to cost cuts.
The office market has been brutalized in most cities and this is not going to help. At least this is spread out across 47 states but I suspect the bulk of this inventory will hit around the Washington DC metro area.
Here’s a list of government buildings in the Washington DC. It’s unknown how many or which ones will be put on the market.