In the following podcast interview, Ross Litkenhous, Global Head of Business Development – Altus Expert Services, speaks with Kurt Stout, Executive Vice President at Colliers International, about the Strategic Withdrawal of Agencies from Meaningful Placement (SWAMP) Act, and federal agencies potentially moving out of Washington, D.C. In addition, check out Kurt’s ongoing blog, Capitol Markets.
Due to the current political climate, more federal agencies are potentially being re-located outside of Washington, D.C., as highlighted by the SWAMP Act. While this law may not fully come to life, there is a shift where some agencies like the FBI and USDA have considered making moves, which could significantly impact commercial real estate market in the region. In addition, the shrinking of the GSA-leased property market will continue in the region, and points to the “swamp already being drained.”
- More about the SWAMP Act and federal agencies potentially relocating outside of Washington, D.C. (2:37)
- Why a mass exodus of agencies from Washington. D.C. may not happen in the near term. (8:07)
- The regional impact of the ongoing reduction of the overall the GSA-leased property market. (9:27)
- More about the move from GSA-leased properties to being GSA-owned, and the positive and negative impacts of this trend. (12:27)
- Insights into GSA leased terminations, and why they are rare. (19:49)
- Where the D.C. commercial real estate is in terms of the overall economic cycle. (22:33)
This podcast is part of the CRE Insider Podcast Series hosted by Ross Litkenhous.