The General Services Administration announced the sale of a major underused federal property in Southwest Washington, D.C., as part of the Trump administration’s broader push to shrink the government’s real estate footprint and reduce maintenance costs tied to vacant buildings.
Federal officials said the sale of the Liberty Loan Building is expected to save taxpayers nearly $14.6 million in deferred maintenance costs, along with an additional $1.6 million in annual operating expenses.
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“GSA is delivering on President Trump’s priority of fortifying the federal footprint,” GSA Administrator Edward Forst said in a statement announcing the transaction.
The Liberty Loan Building sits on roughly 2.76 acres in Washington’s Southwest corridor and includes a six-story structure totaling about 173,000 gross square feet. The site overlooks the Tidal Basin and is located near several major landmarks, including the Jefferson Memorial, the National Mall, the Washington Monument, and the Southwest waterfront.
Until 2024, the building held the Department of the Treasury’s Bureau of the Fiscal Service, which was relocated to the U.S. Mint headquarters last spring. The Liberty Loan Building, built in 1919 to house the growing Liberty Loan bond program during World War I, has “outlived its useful life,” according to the GSA.
Officials and real estate brokers involved in the deal said the property attracted significant investor interest because of its location and redevelopment potential.
“The Liberty Loan Building represents a once-in-a-generation opportunity to acquire a truly unique asset and anchor the redevelopment of Southwest D.C.,” said Kyle Schoppmann, president of Mid-Atlantic operations for CBRE. He cited the building’s views of the Tidal Basin, proximity to the National Mall, and redevelopment flexibility as key factors driving interest from buyers.
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The sale follows several other recent federal property disposals, including the former GSA Regional Office Building in Washington, D.C., as well as properties in Minnesota, Texas, and California. The administration says the effort is intended to move aging and underused federal buildings into private-sector redevelopment while reducing long-term taxpayer costs.
GSA has also identified dozens of additional federal properties nationwide for possible sale or disposal. Agency officials estimate the broader initiative could eventually eliminate roughly $5 billion in deferred maintenance obligations and annual operating expenses.
