James V. Forrestal Building

David, let me start with you.

A lot of our listeners may never have even heard of the Forrestal building, or they might drive by it every day and not know that that's what it is.

Why has this federal office complex become such an important test case for the future of federal real estate?

Terry, I think the Public Building Reform Board was created by the FASTA Act in Congress back in 2019.

So our board has been looking now for five years or six years at GSA's federal inventory, working with them very closely, communicating.

We actually have an office, the GSA building, near the disposal division, near the portfolio division of GSA Public Building Service, So we have been working closely, taking independent look at these buildings.

And the Forrestal building kind of stood out because it's a million and a half square foot building at the headquarter of the Department of Energy.

But what was discovered three years ago, four years ago, an initial analysis was the utilization of the Forrestal building was extremely low, you know, probably around 20%.