National Broker Contract
GSA Public Buildings Service has a lease portfolio comprising over 8,700 leases with an annual rent outlay of over $5.6B. To acquire these leases on behalf of the Government, GSA utilizes a combination of in house staff complemented by contracts with private sector brokers. On average over the last 3 years, PBS has utilized brokers in the acquisition of 30% of its leased space. The current contract, National Broker Contract 2 (NBC2) is the second of its kind, issued in 2010 at the expiration of its predecessor, now known as NBC1. The contracts were awarded as a one year base and can be extended for a total of four years, subject to annual renewal options. We are currently in the fourth year of NBC2.
The National Broker Contract (NBC) Program has been a vital program within the Leasing program for the past nine years. As a result, two National contracts have been very instrumental in the success of the leasing program. To date, the broker program has been used in the procurement of 3,056 leases totaling 94.1M square feet. The total contract value of leases awarded is $18.0B. The program has been successful in passing along $214.9M in rent credits passed to tenant agencies. The program has a total of 511 leases, comprising of 19.7M square feet currently in the pipeline. These leases have an estimated total contract value of $6.0B with an anticipated commission credit of $74.0M to be passed on to tenant agencies.
The Office of Leasing’s Center for Brokerage Services is developing a strategy to acquire the third generation of GSA’s Broker Contract (BC3). We are aiming to improve upon the previous two versions of the contract, using lessons learned as well as a innovative approaches and strategies.
The shortcut to this page is www.gsa.gov/brokercontract.