As discussed in a previous Holland & Knight alert, the U.S. General Services Administration (GSA) is seeking to dispose of a substantial portion of its owned inventory. On March 24, 2025, GSA released a new list of properties that are slated for "accelerated disposition." The current list contains eight office properties across the nation:
GSA has invited interested parties to submit "non-binding term sheets" to [email protected]. GSA has not yet provided detail on what the new accelerated disposition process will entail. Although GSA provides a link to FAQs, those questions and answers center primarily around the assets themselves not the disposition process.
GSA officials have said that the accelerated disposal process will consist of an initial posting of known due diligence information for each asset while the government completes statutorily required processes such as McKinney-Vento Act screenings, which determine whether a property could be appropriate for assisting the homeless community. Afterward, interested parties will be invited to attend open houses, tours, inspections and other public events associated with the sale offering and asked to respond within the stipulated timeframes for the sale. No decisions have been made on whether GSA will use a specific sales process to accelerate disposition of these properties. Instead, GSA advised that some properties may be sold through the online auction, sealed bid auctions and others via a hired broker, depending upon a variety of factors.
Holland & Knight's GSA Leasing & Federal Real Estate Team is closely monitoring the situation and can assist interested buyers in navigating the disposal process, including potential public sales of surplus properties. In addition, the firm's Real Estate Practice can assist in the acquisition, disposition, financing, and recapitalization or development of these properties.
