The Trump administration is swiftly executing new space reductions by the day. The administration has canceled 22 leases, equating to $44.6M in cost savings for the federal government, the Elon Musk-led Department of Government Efficiency posted on X Sunday evening.
The post didn`t say which buildings were part of the termination.
On Jan. 27, DOGE posted that three leases of “mostly empty office space” had been terminated, equating to $1.6M in savings, a post that new General Services Administration acting Administrator Stephen Ehikian retweeted.
Sunday’s post says the uptick in lease terminations from three to 22 had occurred in the six days between the posts.
“It’s got the market on edge right now,” a federal real estate leasing veteran told Bisnow on Monday...
On Jan. 27, DOGE posted that three leases of “mostly empty office space” had been terminated, equating to $1.6M in savings, a post that new General Services Administration acting Administrator Stephen Ehikian retweeted.
Sunday’s post says the uptick in lease terminations from three to 22 had occurred in the six days between the posts.
“It’s got the market on edge right now,” a federal real estate leasing veteran told Bisnow on Monday...
RSK: I bet there are some Landlords and owners in DC that are a bit nervous with the flood of office space coming available.
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- - Volume: 25 - WEEK: 7 Date: 2/11/2025 1:58:09 PM -