BREAKING: Trump Administration Moves to Sell Federal Buildings, Including Cheney and Pelosi Properties
The Trump administration is reportedly advancing plans to sell 443 federal buildings, including those named after former Vice President Dick Cheney and former House Speaker Nancy Pelosi.
Documents from the General Services Administration (GSA) show that the federal government aims to divest nearly 80 million square feet of “non-core” assets across 47 states, Washington, D.C., and Puerto Rico. This includes major government headquarters in the capital, such as those of the Department of Justice, Department of Energy, and the FBI.
Among the properties flagged for potential sale are the Dick Cheney Federal Building in Wyoming and the Nancy Pelosi Federal Building in San Francisco, according to Bloomberg.
This move aligns with Trump’s goal of downsizing the federal government and reducing wasteful spending. The GSA estimates that selling these properties could save taxpayers more than $430 million annually in maintenance and operational expenses.
This initiative contrasts with former President Joe Biden’s approach, which involved expanding federal agencies and operations. Trump, who has consistently campaigned on reducing government bureaucracy, is now taking steps to shrink the government’s real estate holdings.
Properties on the sale list include:
- FBI Headquarters (Washington, D.C.)
- Department of Justice Headquarters
- Department of Energy Headquarters
- FAA Headquarters
- Nancy Pelosi Federal Building (San Francisco, CA)
- Dick Cheney Federal Building (Casper, WY)
Many of these buildings are either underutilized, outdated, or seen as surplus to the government’s needs. Trump, known for his willingness to challenge the GOP establishment, has made it clear that no property is off-limits.
The Dick Cheney Federal Building in Casper, Wyoming, serves various federal agencies, including a U.S. Post Office. Originally built between 1968 and 1970 as the Post Office and Federal Office Building, it was renamed in 1998 to honor Cheney, a native of Casper and former Vice President. The building features a one-story east wing for postal services and a four-story west wing for federal offices.
While the Biden administration focused on expanding the federal government’s footprint, Trump is now aiming to reduce it, one building at a time. Although a list of properties for sale has been published, this does not guarantee that any buildings will be sold.
Michael Peters, former investment banker and Trump-appointed head of the Public Buildings Service, told Bloomberg, “Just because something is on the non-core list doesn’t mean it’s for sale. But if an offer comes in, we’ll consider it.”
Valuing these government properties is complicated due to the unique characteristics of each building and current market conditions. The commercial real estate sector has been under strain from rising interest rates and the ongoing effects of the COVID-19 pandemic, with office prices falling by 36% from their 2022 peak, according to Green Street, a real estate analytics firm.
Moreover, the shift to remote work has led to lower demand for office spaces, resulting in higher vacancy rates in major cities. The high costs associated with construction and financing also make it difficult to convert commercial properties into residential spaces.