GSA taking ‘fresh look’ with 1 in 4 federal leases soon to expire

Federal News Network: About a quarter of all federal leases held by the General Services Administration will expire within the next two years, giving the agency a big opportunity to renegotiate for longer-term leases on buildings where agencies plan on staying put — and at a lower rate.

Over the past 18 months, the Public Building Service has taken a “fresh look” at its leasing portfolio, said Alison Azevedo, PBS’s assistant commissioner for leasing, adding that the agency remains on track to achieve $4 billion in cost savings through its real estate portfolio by the end of 2023.

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