General Services Administration to Buy 1.9 MSF Office Building in D.C. for $760M

USDOT fully occupies 1200 New Jersey Ave. SE.

WASHINGTON, D.C. — The General Services Administration (GSA) exercised its purchase option to buy 1200 New Jersey Ave. SE in Washington D.C.’s Yards/Southeast Federal Center neighborhood for $760 million. The United States Department of Transportation (USDOT) fully occupies the 1.9 million-square-foot building. The sale is expected to close in March 2020, 19 months before USDOT’s lease expires, saving $99.8 million in rent costs. The USDOT employs 5,500 workers at the property. Amenities at the property include bike racks, access to the Walking Museum of Transportation, a loading dock and 13-foot ceilings. According to its website, GSA provides workplaces by constructing, managing and preserving government buildings and by leasing and managing commercial real estate.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News