GSA's Property Database Contract Isn't Really Worth $8 Billion

The General Services Administration still wants an internet-based system to track real estate trends but says it doesn't really want to spend billions of dollars on the contract.

The agency modified the solicitation for a nationwide “internet-based computer accessible real property informational services” system, bringing the total ceiling down from $8.2 billion to $4.9 million.

The initial dollar figure gave some pause. After the request for proposals was published July 6 with the $8.2 billion price tag, industry had only one question to submit: Is that number right? Contracting officials responded with the revised ceiling and posted the solicitation amendment on July 20.

The original $8.2 billion figure was a typo that was then reiterated throughout the solicitation, a GSA representative told Nextgov. The original ceiling should have been $8.2 million.

While fixing the typo, contracting officials also reduced the ceiling to $4.9 million. GSA declined to comment on the reason for the reduction.

Once operational, the system will give GSA property managers a view of national, regional and local real estate markets to help make better decisions around buying, selling and leasing government property.

“This contract will provide valuable commercial real estate data and information resources to enable individual and portfoliowide management and evaluation of GSA’s owned and leased properties by the various [Public Buildings Service] divisions and regions,” according to the statement of work.

Specifically, the database will be used to create a better view of the real estate market to track rental rates and market fluctuations. That information will be used primarily by the Office of Portfolio Management and Customer Engagement, the Office of Property Disposal, the Capital Investment Division and the Leasing and Analysis Divisions.

The winning vendor will be able to provide all of the following:

• Comprehensive market, submarket and building inventories, trends and analytics, market and building size, and a variety of other data fields.
• Mapping and aerial photographs of buildings and comparable data.
• Building specific data including floor plan information, building photographs and tenant floor-by-floor information.
• Historic trend analytics including rent, vacancy and absorption. GSA requires a broad geographic and demographic informational base.
• Submarket statistics and boundary maps; a variety of interactive custom and demographic reports, as well as quarterly major market overview reports of building vacancy and absorption by market and submarket; confirmed comparable sales transaction, comparable rental rates and lease expirations sortable by property type, property class, geographic location and dates of sale.
• On-site system training available during normal business hours, telephone and computer-based technical support with 24-hour, 7 days a week access.
• Ability for the contractor to provide research on specific real property to include current and historical building specific rent rates, vacancy and major improvements.
• Information should aggregate to the national level for the national offices and regionally/market specific for the GSA regions.
• All information must be directly accessible by GSA employees or its contractors.

The current contract was set to expire in February but was extended six months to Aug. 5. However, that contract only offered a nationwide view of the market; the new contract will also include regional and local coverage, according to the statement of work.

The original solicitation called for 200 licenses. The revised statement of work calls for 130.

Other aspects of the solicitation remain unchanged, such as the proposal due date—Aug. 6—and the period of performance—one base year with four one-year add-on options.