Business US government loses $ 750 million properties

US government loses $ 750 million properties

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A dozen multi-million dollar properties owned by the United States will be on sale to the public in the coming months in high demand sites such as Silicon Valley.

Mb (0) – sm Mt (0.8em) – sm Mt (0.8em) – sm “type =” text “content =” The US government plans worth $ 750 million property loss, based on the praises of the Public Buildings Reform Board, commissioned by the Sales and Transfer of Federal Assets Act of President Obama, 2016. The action requires opportunities for the Office of Management and Budget and General Services Administration (GSA) to provide opportunities for government real estate. reduce federal. “Data-reactid =” 12 “> The US government plans to lose $ 750 million properties, based on the recommendations of the Public Buildings Reform Board, commissioned by President Obama’s Sales and Transfer of Assets Act. 2016. The action requires the Office of Management and Budget and General Services Administration (GSA) to identify opportunities to reduce federal government real estate holdings.

“The government owns 885 million square feet of real estate t in the US, costing a total of $ 8 billion each year. There are 3,817 unused or underutilized buildings in 2018, out of a total of 57,840 owned buildings, according to the latest. GSA details. “data-reactid =” 13 “> The government owns 885 million square feet of real estate in the United States, costing a total of $ 8 billion to maintain each year. It has 3,817 unused or underused buildings in 2018, out of a total. 57,840 owned buildings, according to the latest GSA data.

The federal government is making “a closer look at the properties that are non-mission critical for agencies, and trying to encourage them to… consolidate their offices and get a more difficult prospect of getting surplus property back on. the tax roll, ”said David Winstead, member of the Public Building Reform Board.

The refurbishment board decided to sell these sites in six months’ time, after the statutory board had strict deadlines. Apart from unforeseen delays, these properties were approved to enter the market within the next five months.

The federal agencies that own their property are incentivized to sell their property as they are eligible to receive some profit from property sales after six years. The sale of property is administered by the GSA and the proceeds from the sale will go into the General Exchequer Fund.

(0) – Mt (0) – sm Mt (0.8em) – sm “type” text “content”Properties available“data reactid =” 17 “>Properties available

South Western Fisheries Science Center. Photo by: National Oceanic and Atmospheric Administration.

South Western Fisheries Science Center. Photo by: National Oceanic and Atmospheric Administration.

“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “South Western Fisheries Science Center; Pacific Grove, Calif.“data-reactid =” 38 “>South Western Fisheries Science Center; Pacific Grove, Calif.

The South West Fishery Science Center is perhaps the most sold property, it is an abandoned fishery in Pacific Grove, Calif., And coastal residential property, hotels and golf courses, it is likely that property developers will be near the beach. near Monterey, Calif. want to build luxury development.

“Some properties were more certain than others,” said Winstead, referring to a 4.2-acre property of the Department of Commerce, adding that the South West Fishery Science Center is a beautiful setting, overlooking the ocean.

(0) – Mt (0) – sm Mt (0.8em) – sm “type” “text” content = “Although the requested price of the property has not yet been determined,” Pacific Grove residential properties asked an average $ 752 per square foot in 2019, according to market report. t at Zillow, the 11,220 square feet fishery could be enlisted for about $ 8.4 million, unless there is more access to the beach, which adds more value to the property. “data-reactid =” 41 “> While the property has not yet fixed a price, residential properties of the Grove Grove asked an average $ 752 per square foot in 2019, according to a market report at Zillow. , which could say that the 11,220 square feet fishery could be enlisted for about $ 8.4 million, if there is no more of its access to the beach, which adds more value to the property.

The site has been vacant since 2014. Currently, only two part-time employees are working on the site. In addition to the profit made on the sale, the government will save $ 1.2 million of deferred repairs to the outdated building, built in 1952.

McKelvey USGS Building, Menlo Park, Calif. Credit: Michael Diggles, US Geological Survey. Public domain.McKelvey USGS Building, Menlo Park, Calif. Credit: Michael Diggles, US Geological Survey. Public domain.

McKelvey USGS Building, Menlo Park, Calif. Credit: Michael Diggles, US Geological Survey. Public domain.

“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “Menin GSA Park Campus; Menlo Park, Calif.& nbsp; “data-reactid =” 63 “>Menin GSA Park Campus; Menlo Park, Calif.

The GSA 17 acre campus in Menlo Park will also go on sale, opening real estate that is desirable for wealthy investors and high-tech companies in Silicon Valley. The US Geological Survey is on site, which will be relocated and consolidated with an office in Mountain View, Calif.

“In 2019, sales of office buildings in the surrounding county t $ 638 per square foot, according to the market details with Cushman & amp; Wakefield. So at 412,663 square feet the property could be worth about $ 263 million “data-reactid =” 65 “> In 2019, office building sales in the surrounding county went about $ 638 per square foot, according to Market data at Cushman & Wakefield at 412,663 square feet may be worth around $ 263 million t

“The Park Menlo area is at the heart of the technology sector and there are companies such as Google, Apple, Intel and E-Trade and the real estate market is one of the strongest in the country,” wrote the Public Buildings Reform Board.

Civil Air Patrol, the US Air Force Reserve operated on the refurbishment of the Nike Missile Site in December 2019. Photograph by: Nike Missile Site Restoration Site.Civil Air Patrol, the US Air Force Reserve operated on the refurbishment of the Nike Missile Site in December 2019. Photograph by: Nike Missile Site Restoration Site.

Civil Air Patrol, the US Air Force Reserve operated on the refurbishment of the Nike Missile Site in December 2019. Photograph by: Nike Missile Site Restoration Site.

“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “Nike missile site; Gaithersburg, Md.“data reactid =” 91 “>Nike missile site; Gaithersburg, Md.

The Department of Commerce will be selling a land patch – post-13.7 acre site in Gaithersburg, Md., Near to Washington, D.C.

The site Nike, not affiliated to Oregon- the athletic footwear company based at home by Nike W-92 missile battery. reports. “data-reactid =” 93 “> The Nike site, which is not affiliated with the Oregon athletics footwear company, was a home for Nike W-92 missile battery. It was the missile defense line“ sight line ”against Soviet attacks in during the Cold War, according to reports.

The site includes barracks, kennels, dispatch pads, and storage buildings. Since the closure of the operations in 1968, the site owned by the Commercial Department is largely vacant, except where robotics trials are hosted from time to time, which will be relocated.

“last year, there was an average $ 153.75 in industrial property sales. Last year, there was an average $ 153.75 in industrial property sales. t in Gaithersburg per square foot, giving the Nike site a $ 5 million value, according to 2019 Cushman & Wakefield market. reports. “data-reactid =” 95 “> Last year, industrial property sales in Gaithersburg were on average $ 153.75 per square foot, bringing the Nike site to $ 5 million, in line with Cushman & Wakefield’s 2019 market reports. .

“There is a strong demand for developmental land in the Gaithersburg area, particularly because of its proximity to Washington D.C.,” wrote the Public Buildings Reform Board.

National Archives and Records Office. Photo by: National Archives and Records Administration.National Archives and Records Office. Photo by: National Archives and Records Administration.

National Archives and Records Office. Photo by: National Archives and Records Administration.

“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “Seattle National Archives; Seattle, Wash.& nbsp; “data-reactid =” 117 “>Seattle National Archives; Seattle, Wash.

“Not all people are happy about these sales.” t library, the Federal Archives Center and Federal Records are a 73-year-old building for 10 acres – and require $ 2.5 million reforms. Currently the building has historical records for Alaska, Hawaii, Idaho, Oregon, Washington, and the South Pacific, including contract documents for 272 Native American tribes. The records will be relocated to facilities in Missouri and California & nbsp; “data-reactid =” 118 “> But not everyone is happy about this sales. Seattle’s ancient library, the Federal Archive and Archive Center, 73-year-old is building a 10 acre tree – and needs $ 2.5 renovations. million, currently there are historical records at the building for Alaska, Hawaii, Idaho, Oregon, Washington, and the South Pacific, including contract documents for 272 Native American tribes. relocated to facilities in Missouri and California.

vas) em em em em em em em em em em pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal pobal The public mourned the waiver of the Pacific region region cultural importance, according to reports. Senators and representatives from Washington, Alaska, Oregon and Idaho also challenged the sale of the property, citing the importance and importance of the region. Three tribes in the area, the Muckleshoot, Puyallup and Port Gamble S´Klallam, sent letters to the Office of Management and Budget, according to reports. Washington State Attorney General Bob Ferguson has assigned a solicitor to review the decision of the Board to Restore Public Buildings t reports. “data-reactid =” 119 “> The public mourned the Pacific region’s records of cultural importance to them, according to reports. Senators and representatives from Washington, Alaska, Oregon and Idaho object to the property sale, by The importance and importance of three tribes in the area, the Muckleshoot, Puyallup and Port Gamble S’Klallam, added letters to the Management and Budget Office according to reports, and an attorney has been assigned by the Attorney General in Washington to review Public Buildings Reform Board decision, according to reports.

“There are many factors, and they are clearly very sensitive to boards. All of these were through a review process. We did not enter and grab something that the agency did not have a surplus, ”said Winstead, citing the board’s priority in minimizing job loss and coordinating with communities.

((0)) sm 1.0 1.0 1.0 1.0 1.0 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 em em 0.8 0.8 0.8 0.8 0.8 2013 2013 2013 2013 2013 2013 2013 2013 2013 The property in 2013 was worth $ 43.17 million when it was finally assessed, according to public records. However, land values ​​in the area have grown by 25% since then, according to LoopNet market report. “data-reactid =” 121 “> The property was valued at $ 43.17 million in 2013, according to public records, but land values ​​in the area have since grown by 25%, according to the LoopNet market report. .

Other properties that the US government intends to put on sale include Idaho Falls office building, Harrisburg, Penn. courthouse, warehouses in Auburn, Wash., and mixed use building in Laguna Niguel, Calif.

“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “Sarah Paynter is a reporter at Yahoo Finance. Follow her on Twitter @sarahapaynter“data reactid =” 123 “>Sarah Paynter is a reporter at Yahoo Finance. Follow her on Twitter @sarahapaynter

“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “Read the latest financial and business news from Yahoo Finance“data reactid =” 124 “>Read the latest financial and business news from Yahoo Finance

“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “Follow Yahoo Finance’s Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.“data-reactid =” 125 “>Follow Yahoo Finance’s Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.

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“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “Candy Ferrara extract opens a candy dream house Colorado“data reactid =” 128 “>Candy Ferrara extract opens a candy dream house Colorado

“canvas-us can-text Mb (0) – mt (0) – sm Mt (0.8em) – sm” type “text” content “This mansion has the MTV ‘The Real World’ Relive and is a colorful seaside ocean“data-reactid =” 129 “>This mansion has the MTV ‘The Real World’ Relive and is a colorful seaside ocean

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