In the Headlines
February 26, 2025
Real Estate Takes Stock of Federal Lease Upheaval
Law360
GSA Leasing & Federal Real Estate attorney Gordon Griffin was quoted in a Law360 article about the evolving landscape of federal real estate and the impact of cost-cutting measures on leasing practices. The article explained how companies such as Easterly Government Properties are navigating the federal government's push for cost efficiency, while considering the implications of potential lease terminations. Mr. Griffin highlighted measures regarding holdover damages that provide defenses for borrowers, in addition to advising lessors that the U.S. General Services Administration (GSA) could seek buyouts of some leases.
"If the government fails to remove all of their furniture from the property prior to the requested termination date, then they have breached the implied duty to vacate and are liable for holdover damages," he said.
READ: Real Estate Takes Stock of Federal Lease Upheaval (Subscription required)
"If the government fails to remove all of their furniture from the property prior to the requested termination date, then they have breached the implied duty to vacate and are liable for holdover damages," he said.
READ: Real Estate Takes Stock of Federal Lease Upheaval (Subscription required)