The General Services Administration has signed a 15-year lease agreement for the Pension Benefit Guaranty Corporation to occupy a new headquarters located in Washington, D.C.
PBGC will consolidate its HQ from three leased sites into a 431,785-square-foot facility at 445 12 Street, S.W., Washington, D.C., GSA said Tuesday.
“The new lease will reduce PBGC’s real estate footprint and their utilization rate, and save the American taxpayer approximately $4.5 million in annual leased cost avoidance,” said Mary Gibert, regional commissioner for the National Capital Region of GSA’s Public Buildings Service.
GSA estimates that PBGC will save $4.5 million in annual lease cost and reduce the latter’s footprint by 35,375 rentable square feet through the consolidated HQ.
