GSA Transfers Title of the Cotton Annex
April 28, 2017
Auction’s winning bid reached over $30 million
Washington, DC. -Today The U.S. General Services Administration (GSA) transferred the title for the Cotton Annex site, located at 300 12th St. SW in Washington, D.C. to the high bidder, who submitted a winning bid of $30.261 million in the online auction for the property.
The sale of the Cotton Annex is the agency’s latest action to reduce the federal government’s real estate footprint by making more efficient use of properties through innovative and cost-saving disposal initiatives.
"We are pleased that this underutilized Federal property generated robust interest in the marketplace,” says Mary Gibert, Public Buildings Service regional commissioner for GSA’s National Capital Region. “GSA’s disposal of the Cotton Annex will positively impact the neighborhood and greater Washington community by making this valuable Government asset available for other uses, as well as being a sound financial transaction for the American taxpayer.”
The Cotton Annex site includes a 118,000 gross square foot building on 1.41 acres and is located just off the National Mall. The property was built in 1937, and used by the U.S. Department of Agriculture. GSA started an online auction for the property on December 1, 2016, with a soft close date of January 31, 2017. The auction continued until February 9, 2017, due to continued bidding activity.
The mission of the U.S. General Services Administration is to deliver the best value in real estate, acquisition and technology services to government and the American people.
Join the conversation @USGSA