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DEA commits to Pentagon City for another 15 years

The federal government has inked a deal to keep the Drug Enforcement Administration in its current Pentagon City home, less than a month after a judge struck down a challenge by a competing landlord in Alexandria.

The General Services Administration signed a 15-year-lease Wednesday valued at $275.4 million for the DEA at Lincoln Place, a two-building complex at 600-700 Army Navy Drive. The 511,487-square-foot lease, with an affiliate of the California State Teachers Retirement System, comes more than two years after the GSA kicked off its search for a potential new home for the DEA.

The GSA, the federal government’s main civilian real estate arm, estimates the lease will save the federal government more than $100 million over its term. It did not provide further explanation on how it arrived at that figure, but the lease term contained rent concessions including parking that helped it win out over Victory Center in Alexandria.

“GSA is pleased to provide DEA with an efficient, long-term…

Read the full story from the Washington Business Journal.



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