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  • Writer's pictureMark Ritchie

NFDA 2023 Key Takeaways

The National Federal Development Association (NFDA) is the sole entity dedicated to representing owners of commercial real estate that lease their properties to the federal government.

NFDA recently conducted its Annual Conference in Washington, D.C. on October 24th and 25th, boasting an impressive turnout of nearly 250 attendees. Among the participants were Mark Ritchie and Amit Tyagi, both actively engaged in NFDA. During the conference, Amit skillfully moderated a discussion panel on Capital Markets and Finance, while Mark took the helm in guiding a panel of esteemed executives from the Veterans Administration.

Key Insights from the Conference
  • The Veterans Administration (VA) has committed to leasing approximately 50 medical clinics in the coming years.

  • Pricing for the sale of government-leased assets remains uncertain, with a significant gap between bid and asking prices.

  • Similar to the private sector, mounting construction expenses, capital costs, and supply limitations are adversely affecting the development of new government-leased buildings.

  • The absence of Return to Office (RTO) mandates for the federal workforce is notably impacting building occupancy in Washington, D.C., even more so than in other major metropolitan areas.

  • Banks are still grappling with financial challenges, while lending sources such as insurance companies and pension funds are taking the lead in financing initiatives.

In summary, NFDA’s Annual Conference shed light on critical issues within the federal real estate leasing industry, highlighting both opportunities and challenges in this dynamic sector.

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