GSA Seeking New Private Operator For 500k SF International Trade Center
The largest federal building in the District could soon come under new management.
The GSA has issued an RFP to operate and manage the International Trade Center at the Reagan Building at 1300 Pennsylvania Ave NW, the Washington Business Journal reports.
The ITC has 500k SF of mixed-use space, including private sector offices, a food court, restaurants, cafés, and a conference and events center. The GSA will retain ownership of the building but is seeking a private company to take operating control. The company would pay a minimum annual lease and would retain all the revenue generated in the building.
Trade Center Management Associates has operated the building since its 1998 opening, but its deal, reportedly worth more than $200M, runs out in 2018. TCMA sued the GSA this summer to keep private the amounts it charges tenants to lease space in the building, arguing it would cost the company its competitive edge.
GSA's national capital region administrator, Julia Hudson, will speak at Bisnow's Future of Southwest DC and The Wharf event on Nov. 10. [WBJ]
