GSA Leasing Plummets in 2012, According to Industry Report

December 5, 2012

The General Services Administration cut its spending on new leases by 96 percent from fiscal 2011 to 2012, according to a new report.

New lease awards fell from $1.2 billion in fiscal 2011 to $46 million in 2012, according to the report released Wednesday by real estate company Jones Lang LaSalle

The report attributed the steep drop to uncertainty about future budgets, congressional gridlock and increased scrutiny of GSA spending.

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