U.S. Government Hits Pause on Massive Commercial Real-Estate Sale
Source: msn/WSJ
11h
The U.S. government on Tuesday was gearing up for one of the largest sales ever of commercial real estate. By Wednesday morning, that sales process was suddenly in limbo. In an extraordinary reversal, the General Services Administration removed from its website about 440 federal buildings representing nearly 80 million square feet of space that only hours earlier it had listed for sale.
That followed stinging criticism from workers in the buildings, elected officials and others opposed to the mass property sale that led the GSA to pause. A spokesman for the GSA, which manages federal real estate, said a list of specific properties for sale will be republished in the near future “after we evaluate this initial input and determine how we can make it easier for stakeholders to understand the nuances of the assets listed.”
The Trump administration has been aiming to sell scores of federal buildings throughout the country as part of President Trump’s effort to shrink the government and slash federal spending. While many of the properties are aging, shabby buildings that wouldn’t fetch much, some better-known properties were also up for sale. The list that the GSA made public on Tuesday included the Washington, D.C., headquarters of the Federal Bureau of Investigation, the Department of Health and Human Services, and the Labor Department.
But later Tuesday, the GSA reduced the list to 330 properties and removed many of the higher-profile buildings. On Wednesday morning, the GSA website no longer listed any properties. It said that the list of “non-core properties for disposal” was “coming soon”
Read more: https://www.msn.com/en-us/money/real-estate/u-s-government-hits-pause-on-massive-commercial-real-estate-sale/ar-AA1AkmbN
= new reply since forum marked as read
as they were targeting buildings where she lives. Yesterday the Philly Inquirer had an article about the buildings here that were on the list - Trump administration proposes sale of federal buildings all over Pa. — with three in Philly -
The current VA building here is relatively "new". The original building that my dad had worked out was actually an old factory/warehouse that had been built in the '20s, that the government bought and refurbished for office space (eventually putting computer systems in to process Veteran's benefits/checks, where my dad was a COBOL programmer for that), and they apparently moved into that building in 1949 -
Eventually the old building was torn down and a new building was put in place on the lot 30 years ago (1995) -
I remember driving by the location over the years and was shocked when I saw they were tearing down the old building and constructing the new one (the old building space became the parking lot for the new one, that was built on the far end of the property).
There had been a list of buildings on GSA's site (some had even taken screenshots of it) and then that was taken down.
