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Washington Real Estate Players Get Up to Speed Cautiously

WASHINGTON, DC-In a region dominated by government-owned or leased real estate, players say the market will never be the same because of the extraordinary safety measures taken after Tuesday's terrorist attacks on the Pentagon and the World Trade Center in New York.

By Marlon Millner | Updated on September 13, 2001

WASHINGTON, DC-Day quickly turned to night for Boston Properties when hijacked planes crashed into the World Trade Center twin towers in New York, and moments later, the Pentagon here in Arlington, VA. “We went into building lock down, immediately,” Boston Properties’ David Boone told GlobeSt.com. “That means all of our buildings went on card-key access, like evenings and weekends.” Boone is senior vice president of property management for the Washington region. And his company, like many other property managers went on high alert, securing and even evacuating buildings after the massive attacks on public and private property.

Boston Properties owns at least three major buildings in the District with the federal government as the sole tenant. Along a stretch of E Street SW, the firm owns the headquarters of the Office of the Comptroller of the Currency at 250 E, the National Aeronautics and Space Administration headquarters at 300 E, and the International Trade Commission headquarters at 500 E. Boone declined to give information on the security procedures in those buildings, but did say they are handled by the federal government and not Boston Properties.

According to the General Services Administration, the federal Office of Personnel Management issued the order on Tuesday for federal employees to leave government buildings and go home. In the Washington area, the order affected 171 buildings owned by the federal government and 430 locations where the government has leases, all of which are managed by GSA. However, GSA only manages about 40% of the space around the country that the federal government owns or leases.

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