US Government to Sell Up to $750M in Excess Property for Commercial Redevelopment

Bruce Byers of CoStar writes “The public Buildings Reform Board, a federal advisory committee established by the Federal Assets Sale and Transfer Act of 2016, has recommended that the General Services Administration put 12 properties worth about $750 million on the market.

David Winstead, an attorney in Ballard Spahr’s Washington, D.C. office, told CoStar News this is only the first round, while the board expects to make at least two more rounds of recommendations.  Winstead said There’s a whole city block in Menlo Park that could be worth hundreds of millions of dollars.”

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