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GSA sells ‘prime development site’ south of National Mall

The General Services Administration has sold a sliver of land just south of the National Mall in Southwest D.C. for $4.1 million, the second transaction tied to federal legislation aimed at helping the federal government shed excess real estate.

The GSA sold the .59-acre parcel by 12th Street and Independence Avenue SW May 10 to Ingram Texas Partners LLC, according to the D.C. Recorder of Deeds. The parcel was specifically identified as a potential sale candidate in the Federal Assets Sale and Transfer Act of 2016. FASTA also called for the sale of the Cotton Annex, which the GSA sold to an affiliate of Douglas Development Corp. for $30.3 million in 2017.

The concept for FASTA, designed to cut through layers of red tape that has led the federal government to retain unused or underutilized real estate, gained bipartisan support in the House and Senate.

“Creating value for taxpayers by reducing the federal government’s physical footprint, including disposal of underutilized real property,…

Read the full story from the Washington Business Journal.