Both the Department of State and General Services Administration have expressed interest in it, according to Bill Wilcox Jr., real estate attorney with Pillsbury Winthrop Shaw Pittman and former counsel in the environmental division of the Department of Defense's BRAC office. "The Army has until May 9 to make its final determination." He says the Army may decide it is not in its best interest to pass the building to another agency. It may also decide, he adds, to bestow some or all of the facilities to the city, although DC is further down in the screening order's hierarchy.

Changes are ahead for the Washington/Baltimore region as a result of BRAC, some of which--like the Walter Reed decision--are still unfolding. Citing security concerns, the Pentagon announced it would not renew a number of leases in Northern Virginia.

Arlington County, for example, was originally slated to lose some four million of office space, but it successfully negotiated to retain the Defense Advanced Research Projects Agency, Office of Naval Research and Office of Scientific Research office leases, according to a spokeswoman for Arlington County's economic development department. "Crystal City [in Arlington County] was the most affected."

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.