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GSA Picks Five Real Estate Brokers

WASHINGTON, DC-The agency's national capital region will expand its efforts for public-private partnerships by working with several firms to provide leasing-related services.

By Marlon Millner | Updated on October 11, 2001

WASHINGTON, DC-The General Services Administration has expanded its efforts to use public-private partnerships. GSA’s national capital region has picked five real estate brokerage firms to provide leasing related services to GSA’s clients. The firms selected are Capital CREAG, The Crown Partnership Inc., Equis Corp., Spaulding & Slye Services LP, and Trammell Crow Co. The firms will provide government lessees with a variety of services including renegotiations of existing leases, outleasing, and pre- and post-acquisition realty services. Each firm has a one-year contract, with a limit of $3 million of services provided per firm. The deals have an option to renew annually for up to four additional years.

GSA Administrator Stephen Perry recently went before a US House subcommittee and said that the agency needs more freedom to pursue public-private partnerships to address nearly $4 billion maintenance backlog on an inventory of 1,800 buildings that GSA puts at more than $260 billion nationwide. Changes to existing laws would allow agencies to exchange and transfer property among themselves and private-sector entities, sublease assets on unexpired portions of government leases, and lease certain assets to the private sector. New laws would also allow the federal government to explore creative financing mechanisms to help finance a backlog of public building maintenance needs.

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