GSA Awards Broker Contracts for Commercial Leasing

June 22, 2010

GSA has awarded the next round of national broker contracts for commercial real estate lease acquisition services. The contracts enable GSA to leverage the expertise of private-sector brokers, allowing GSA to continue to deliver expert workplace solutions to agencies housed in leased spaces. GSA's leasing portfolio includes 184.4 million square feet of space in more than 8,000 buildings nationwide.

The broker contracts require no appropriated funds, as no payments are made directly by the government. Real estate brokers negotiate and collect commissions directly from building owners as is typical in commercial real estate transactions. GSA leasing professionals will serve as project managers, guiding the brokers to fulfill their responsibilities under the contracts.

The contracts were awarded to CB Richard Ellis, Jones Lang LaSalle Americas Inc., Studley Inc., and UGL Equis Corp.

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