Tenant Agency: Transportation Security Administration (TSA)
Client: GSA Broker Contractor
The General Services Administration (GSA) hired a National real estate firm as a Broker Contractor to represent the GSA in leasing several hundred new office locations for the TSA across the country. The Broker Contractor hired GLA as a Contractor for approximately 120 of the TSA lease locations.
The Client tasked GLA with completing the 120 TSA locations in under three months, from site selection to lease execution. A majority of the lease locations in which the TSA was looking to lease space were located in second-tier markets with limited space available at the airport locations, or in off-site locations that would need extensive build-out to meet the TSA’s requirements. In addition, almost all of the leased airport locations faced approval process hurdles by the airport governing authorities. Airport decision makers were often part of regional governing authorities that met infrequently, required multiple layers of approval (including formal votes) and could take on average six months or more to make real estate leasing decisions.
GLA worked with the Client to determine the best approach to complete the hundreds of lease transactions within the contract period, while also providing high-quality lease transaction management for each individual transaction. GLA worked with the GSA and key local decision makers to provide documentation from the US Federal Government that would allow the regional governing authorities to fast-track their internal procedures, enabling timely decisions in processing the GSA leases and attainment of market rents for the TSA-leased spaces.
GLA was able to complete all of the assigned TSA lease location assignments within the schedule mandated by the Client. The Client, GSA and TSA were very satisfied with the results of GLA’s efforts on the project, and the GSA has subsequently engaged the Client on additional projects due to the success of this assignment.
Government Lease Advisors, Inc.