GSA Gets Bargain For State Department In $100M Office Buy

Law360, New York (March 22, 2012, 7:10 PM EDT) -- The U.S. General Services Administration plunked down $100 million Tuesday for the Department of State's Washington office, keeping the department in its Foggy Bottom digs at well below market rate by exercising a purchase option in the lease.

The deal gives the DOS ownership of approximately 511,500 square feet the agency currently occupies in the multistory Columbia Plaza office building, according to a 2009 prospectus in which GSA — which coordinates office space, supplies, transportation and communications for federal employees — announced its intention to acquire...
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