The U.S. General Services Administration announced Wednesday it was selling its Regional Office Building on 7th Street SW.
The property had been listed for an “accelerated disposition” last year in accordance with a directive from President Donald Trump to reduce waste, according to a news release.
The 940,000-square-foot office sits on GSA’s 3.4-acre campus and last served as the headquarters for the Department of Homeland Security until March 2025. It was sold for just over $24 million, according to the Washington Business Journal.
“GSA is leading by example, eliminating underutilized property and delivering savings to the American taxpayer. This move demonstrates GSA’s commitment to President Trump’s agenda to shrink the federal real estate portfolio to a better core that focuses on workspace needs and agency missions,” GSA Administrator Edward Forst said in a release. “The sale is expected to save taxpayers over $200 million in delinquent maintenance and $5.5 million in annual operating and maintenance costs.”
The Washington Business Journal reported the building is under contract with Delaware-based Lakeville Ventures LLC, an affiliate of Dalian Development, a D.C. residential and data center developer.
“This project is an opportunity to create something beautiful for Southwest Washington — something aligned with the city’s larger vision for the neighborhood and a catalyst for its resurgence,” Hossein Fateh, CEO of Dalian Development, said.
The building is in Southwest D.C. in the Waterfront neighborhood, near L’Enfant Metro station.
The GSA has listed other buildings up for public auction online, with the hope of eliminating up to $5 billion in underutilized buildings with delinquent maintenance and annual operating costs.
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