CBRE|Richmond’s GSA portfolio reaches 10 million square feet

CBRE|Richmond reports that its General Services Administration (GSA) property management portfolio has surpassed 10 million square feet. Two million of that space is located in Virginia.

“This is a significant milestone to reach with this particular portfolio,” Todd Willett, regional managing director of asset services, said in a statement. “We made substantial strides in growing this portfolio in the short length of time that we have been managing it.”

CBRE|Richmond has been managing GSA federal agency properties since 2009. Its largest GSA client, which the company would not disclose, has space in 94 properties totaling more than 5 million square feet. This client was added to the portfolio in April 2015.

At that time, there were just 53 properties totaling nearly 2.5 million square feet. This client expects to close on an additional 1 million square feet by year-end, bringing the entire GSA portfolio to nearly 12 million square feet.

Altogether, the entire GSA portfolio managed by CBRE|Richmond is made up of six major clients in 173 cities in 32 states. There are about 36 employees dedicated to the portfolio encompassing property management, project management, lease administration, accounting, and building services.