US plans to dispose of 443 federal properties to 'save taxpayer dollars'

By Yasin Gungor

ISTANBUL (AA) - The General Services Administration (GSA) announced plans Tuesday to dispose of 443 federally-owned properties in the US, citing significant cost savings.

The properties, primarily office spaces, are no longer deemed essential to federal functions and have been identified as underutilized or vacant.

The GSA’s Public Buildings Service (PBS) said the "non-core" assets comprise nearly 80 million rentable square feet (7.4 million square meters) and require more than $8.3 billion in recapitalization.

By selling the properties, the government aims to save more than $430 million annually in operating and maintenance costs.

The GSA suggested that the buildings have become "functionally obsolete" and "unsuitable" for use by the federal workforce.

“Selling ensures that taxpayer dollars are no longer spent on vacant or underutilized federal spaces. Disposing of these assets helps eliminate costly maintenance and allows us to reinvest in high-quality work environments that support agency missions,” it said.

A statement noted the administration will conduct market research and gather feedback from federal agencies to determine the best disposition strategies.

While the properties are not yet on the market, the announcement reflects the administration’s broader effort to streamline federal operations and reduce unnecessary expenditures.

The GSA manages a vast real estate portfolio of over 360 million rentable square feet and oversees more than $110 billion in federal contracts.