WASHINGTON, DC – March 1, 2016 – (RealEstateRama) — GSA canceled the solicitation for the Cotton Annex and Regional Office Building exchange project to ensure we maximize the value of these assets. After going through a deliberate, open, and competitive process, the offers we received ultimately did not propose an adequate return on these assets.
We are immediately putting the Cotton Annex into the disposal process and beginning to assess the best long-term strategy for the Regional Office Building. We still believe that exchanges are an important tool in our toolkit as we look to divest of underperforming property, reduce the federal footprint, and deliver on capital investment priorities.
Teressa Shih Wykpisz-Lee