Mid-Atlantic Region delivers lease cost avoidance savings during COVID-19
Despite unique challenges brought on by the COVID-19 pandemic, our expert realty team here in the Mid-Atlantic Region continues to pursue taxpayer savings, by avoiding increased lease costs through the timely replacement of expiring leases.
Since March 2020 when we began our shelter-in-place environment, our Real Estate Acquisition Division successfully increased lease cost avoidance figures from $24.3M to $28.2M, an overall increase of $3.9M savings for American taxpayers.
We have also continued the timely replacement of our leased inventory, including replacing $9.3M worth of expiring leases since mid-March 2020. Additionally, our Automated Advanced Acquisition Program (AAAP) and GSA Leasing Support Services (GLS) programs have continued to progress without delay. Six additional lease awards have been made via AAAP, and 10 additional task orders have been issued via GLS.
This article is part of the Summer issue of the FOCUS newsletter. Please visit the Focus Newsletter page to read our newsletter.