The Trump administration is working with Cushman & Wakefield to sell seven industrial properties previously intended for conversion into immigrant detention centers. The vacant warehouse assets are being offered through a federal disposal effort involving the U.S. General Services Administration.
Federal officials aim to recoup a portion of the $706.8 million paid for the properties. The assignment places Cushman & Wakefield at the center of a high-profile effort to reposition a portfolio whose planned government use did not move forward.
As reported by Commercial Observer, the brokerage will seek buyers for all seven sites. The properties could draw interest from industrial users, developers and investors depending on their locations, zoning and condition.
For prospective purchasers, the sale presents an opportunity to acquire vacant industrial real estate from a federal portfolio. The eventual transaction outcomes will indicate how much of the government’s initial spending can be recovered through the open market.
