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GSA Announces New Headquarters for the Securities and Exchange Commission

 

This lease marks the latest milestone to meet SEC’s current and future needs

WASHINGTON DC - Today, the U.S. General Services Administration (GSA) announced that it has awarded a lease for a new U.S. Securities and Exchange Commission (SEC) headquarters building in Washington, D.C. The lease was awarded to Cayre Jemal’s Nick LLC, an entity affiliated with the Douglas Development Corporation, which will construct Financial Plaza at 60 New York Avenue, NE, close to the NoMa-Gallaudet Metro station on the Red Line.

GSA’s award of the lease marks the latest milestone in a years-long procurement process to meet SEC’s current and future needs in a cost-effective manner. The lease will run 15 years with an option to extend for an additional 10 years. It also includes two firm-fixed price purchase options at the end of the initial term and extension term. This represents an opportunity for the federal government to acquire this asset at a significant savings to the American taxpayer.

“This headquarters move offers excellent value to the government, increases efficiency for the SEC, and will enhance the NOMA neighborhood and the New York Avenue corridor, a major gateway into Washington,” said PBS Commissioner Nina Albert.

Some of the additional benefits of the new HQ facility include:

  • Location is within walking distance (.25 miles) of NoMa-Gallaudet University Metro Station
  • The building will be energy efficient and the building will meet the Environmental Protection Agency’s (EPA) ENERGY STAR® requirements and will be LEED certified.
  • The new HQ will accommodate over 4,500 employees.

SEC’s Chief Operating Officer, Ken Johnson said, “We appreciate GSA’s efforts over many years to secure a new headquarters lease in support of the SEC’s critical mission. We also look forward to continuing to partner with GSA on this process going forward to address the SEC’s space needs as they evolve.”

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About GSA: GSA provides centralized procurement for the federal government, managing a nationwide real estate portfolio of nearly 370 million rentable square feet and overseeing approximately $75 billion in annual contracts. GSA’s mission is to deliver the best value in real estate, acquisition, and technology services across government, in support of the Biden-Harris administration’s priorities. For more information, visit GSA.gov and follow us at @USGSA.

 

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Last updated: Sep 30, 2021
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