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January 2009

GSA Portfolio Overview. January 2009. GSA – Federal Agency Update. U. S. General Services Administration.

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January 2009

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  1. GSA Portfolio Overview January 2009

  2. GSA – Federal Agency Update U. S. General Services Administration The US General Services Administration leverages the buying power of the federal government to acquire best value for taxpayers and our federal customers. We exercise responsible asset management. We deliver superior workplaces, quality acquisition services and expert business solutions. We develop innovative and effective management policies.

  3. GSA – Federal Agency Update U. S. General Services Administration • Public Buildings Service (PBS) • Federal Acquisition Service (FAS)

  4. GSA – Federal Agency Update U. S. General Services Administration • What’s going on TODAY? • Presidential Transition • Economic Stimulus Package

  5. GSA – Federal Agency Update U. S. General Services Administration Public Buildings Service (PBS) • One of the largest and most diversified public RE organizations in the world. • In 2,100 communities • 6,197 employees • About 30 appraisers

  6. GSA – Federal Agency Update 1,513 Owned Buildings; 176 million RSF 7,106 Leased Bldgs; 175 million RSF Over 1,000,000 workers in PBS space 420 historic buildings, including 63 National Historic Landmarks

  7. GSA – Federal Agency Update PBS in your community Customers (major) Justice Judiciary Treasury Defense Homeland Security Social Security Interior Health and Human Services Education EPA……and many more Good Neighbor Program Arts in Architecture Design Excellence Day Care

  8. Construction EraOwned Inventory 46% 1800 1941 1945 1979 1993 great society historic world war II design excellence contemporary

  9. Historic 1810 – 1941 Alexander Hamilton Custom House New York, NY US Courthouse San Juan, Puerto Rico

  10. World War II1942 – 1949 Federal Center Kansas City, MO Federal Center Auburn, WA

  11. Great Society 1950 – 1979 Federal Building Los Angeles, CA Federal Building and Courthouse Phoenix, AZ

  12. Contemporary 1980 – 1993 Thomas O’ Neill Federal Building Boston, MA Alan Bible Federal Building Las Vegas, NV

  13. Design Excellence1994 – Present Federal Courthouse Islip, NY Lloyd George Courthouse Las Vegas, NV

  14. Portfolio Trends • Increase in square footage • Decrease in number of buildings • New inventory and disposals • Lease consolidations/expansions • Decrease in owned vacancy • Maintained record low vacancy in leased

  15. Space Trends

  16. Space Trends New Inventory Disposal

  17. Vacancy Trends

  18. Financial Trends • Revenue increase driven by leases • Owned increased by almost 3% or $92M • Leased increase over 5% or $241M • Growth in expenses outpaced revenue • Owned expenses increased by 4.4% • Leased expenses increased by 6.0% • Leased FFO was negative for the second consecutive year

  19. Financial Trends

  20. Financial Trends

  21. Office of Real PropertyAsset Management • Reinvestment Liabilities • Realities • Needs • Funding • Inflation • September 2008

  22. Reinvestment Realities • Increasing construction costs • Limited funding • Large (expensive) national priorities • Leasing for many long-term requirements

  23. FY2007 Reinvestment Needs

  24. Reinvestment Funding

  25. Office of Real PropertyAsset Management • The Path Forward • Limited Call for 2010 • Core Asset Review • Leveraging Resources • Section 412 Authority • September 2008

  26. 2010 Limited Call FY 2008 25 New Construction and R&A Projects - $1.3B Total 32 Lease Prospectuses (including lease alterations) Focus on unresolved issues: i.e. Billings Courthouse FY 2009 14 New Construction and R&A Projects- $1.3B Total 67% of the projects submitted by the regions did not advance 56 Lease Proposals. Most are still under review Stimulus package impact? FY 2010 Expect 2010 Budget, at best, to resemble 2009 (Stimulus package impact?) 49 New Construction and R&A Projects identified for Directed Call

  27. Core Assets Financial Performance Core Assets Strategic Assets Investment Rating

  28. Historic Portfolio Historic Portfolio vs. Total Core Assets Portfolio

  29. Historic Portfolio (cont.) Historic Portfolio – Core Asset HoldingPeriods

  30. Capital Needs New Construction $16.3 B . Courts $2.5 billion CBP $4.9 billion Executive Agency Priorities $4.8 billion Acquisition & New Construction $4.1 billion R&A $8.1 B . R&A pipeline projects $5.1 billion Additional immediate repair needs $3.0 billion Limited scope projects & energy mandates $0.9 billion • TOTAL NEEDS $25.3 B

  31. Sources of Capital Traditional Sources Rent Direct Appropriations Existing Authorities Historic Outleasing ESPC 412 Disposal (exchanges, outlease) New Authorities Leasing (credit tenant leasing) purchase options Stimulus Package???

  32. GSA – Federal Agency Update` Real Property Asset Management $2 to 3 Millionannually for individual contracts for appraisal services • 3 Appraisal Programs: • Fair Market Value (FMV) and Acquisition • Fair Annual Rent (FAR) • Property Disposition, Utilization

  33. Old Post Office Dwight D. Eisenhower Executive Office Building U.S. Department of Justice GSA – Federal Agency Update Visit www.gsa.gov and www.govsales.gov

  34. Center for Drug Evaluation and Research, FDA, White Oak, MD Oklahoma City Federal Building SSA Call Center; adaptive reuse, Auburn, WA Kansas City IRS; Lease construction GSA – Federal Agency Update

  35. GSA – Federal Agency Update GSA National Appraisal Program Contacts: Acting Chief Appraiser and Disposal Appraisal Program Nicholas S. Hufford, MAI, CAE Nicholas.hufford@gsa.gov 202-501-2055 Fair Annual Rent Program Jay Koepf Jay.koepf@gsa.gov 202-219-3052 Also see Regional Contacts list Market Value Appraisal Program: John N. Libeg, MAI, SRA John.libeg@gsa.gov 202-208-0746

  36. GSA – Federal Agency Update Web Resources: USA website http://www.usa.gov/ GSA website http://www.gsa.gov/ Central contractor registration http://www.ccr.gov/ Federal contracting opportunities http://www.fedbizopps.gov/ Get DUNS number http://www.dnb.com/US/duns_update/index.html GSA Online RE auction http://auctionrp.com/auctions2/ More government sales http://www.govsales.gov/html/index.htm

  37. GSA – Federal Agency Update

  38. GSA – Federal Agency Update Nicholas S. Hufford, MAI, CAE Acting Valuations Director and National Appraiser for Property Disposition General Services Administration Public Buildings Service Office of Real Property Asset Management Valuations Division 1800 F Street NW, Suite 7300 Washington DC 20405 202.501.2055 202.631.2751 cell 202.219.9166 fax Nicholas.hufford@gsa.gov THANK YOU!

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