The General Services Administration (GSA) is bolstering efforts to auction unneeded federal properties as part of a push to identify and dispose of surplus facilities.
GSA is working with other agencies to accelerate the process of preparing unneeded properties for sale and moving them to market, reported Federal Times. Last year the agency sold 79 properties for $37 million, and this year it plans to surpass that pace. So far GSA has disposed of, sold or advertised more than 40 properties this fiscal year.
“We are implementing several strategies that will allow us to shed even more excess property,” said a GSA spokesman.
The improved real estate market is allowing the agency to step up sales, noted Darrin Kennedy, executive managing director of government solutions at Colliers International.