GSA Nets $137 Million in Sale of Excess Federal Property in the Bay Area

17.36-acre Menlo Park campus sale closes

SAN FRANCISCO – Today, the U.S. General Services Administration (GSA) announced the completion of a $137 million public sale of Rockaway Grove, the former federal campus in Menlo Park, California. The sale marks a strategic step in ongoing efforts by GSA to rightsize the federal real estate portfolio, cut costs for American taxpayers and optimize the space agencies need to achieve their missions. 

The auction of the former U.S. Geological Survey (USGS) campus not only generated revenue for the federal government, it is expected to save taxpayers approximately $107 million in deferred maintenance and another $4 million in annual maintenance costs.

“This sale demonstrates our commitment to reducing the federal footprint while better serving our customer’s needs,” said GSA Acting Administrator Mike Rigas. “GSA is working with our partners to provide superior office spaces that meet their mission requirements while strategically divesting in underperforming, costly assets.”

The property was originally identified for disposal under the Federal Assets Sales and Transfer Act by the Public Building Reform Board as one of the 12 high value assets approved by the Office of Management and Budget in March 2020. With USGS relocation complete in January 2025, GSA conducted a sealed bid auction for the Menlo Park property, culminating in the opening of three bid packages submitted ahead of the April deadline. The offer of $137,000,006 was the highest bid. The sealed bid process allows GSA to move this property out of the federal inventory while providing economic opportunities for redevelopment. GSA’s strategic approach demonstrates our comprehensive capability in optimizing federal real estate transactions.

In addition to the public sale of this building, GSA has separately identified other assets for accelerated disposition from government ownership in an orderly fashion to ensure taxpayers no longer pay for empty and underutilized federal office space, or the significant maintenance costs associated with long-term building ownership — potentially saving more than $430 million in total annual operating costs.

GSA remains committed to solving long-term problems that exist in the federal portfolio of assets, reducing waste, and delivering long-term value to the American people. For more information, visit realestatesales.gov.

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About GSA: GSA provides centralized procurement and shared services for the federal government. GSA manages a nationwide real estate portfolio of over 360 million rentable square feet, oversees more than $110 billion in products and services via federal contracts, and delivers technology services that serve millions of people across dozens of federal agencies. GSA’s mission is to deliver the best customer experience and value in real estate, acquisition, and technology services to the government and the American people. For more information, visit GSA.gov and follow us at @USGSA.