580K SF Office in East Bay on Trump’s Accelerated Sale List

Uncle Sam wants to unload a 580,000-square-foot office building in Richmond as part of a national sell-off of federal properties.

The U.S. General Services Administration has targeted the Frank Hagel Federal Building for sale at 1221 Nevin Avenue, the San Francisco Business Times reported. A price and listing date were not disclosed.

The six-story building is now home to the Social Security Administration, Sun-Pacific Federal Credit Union and AFGE, among other tenants.

It was named in the GSA’s latest batch of properties earmarked for “accelerated disposition,” according to the Business Times.

“The U.S. General Services Administration is taking action to meet [President Trump’s] direction to rightsize the federal real estate portfolio, cut costs for American taxpayers and optimize the space agencies need to achieve their missions,” a GSA spokesperson said in an emailed statement to the Business Times.

The GSA has not been consistent about its sales targets.

Early last month, it announced plans to sell hundreds of buildings across the U.S., including the Speaker Nancy Pelosi Federal Building and 50 United Nations Plaza Federal Office Building in San Francisco. Then it reversed course.

A few hours later, the federal agency replaced it with a paired down list of eight properties it planned to sell, none in California.

This week, the GSA added eight properties to its list, including the Richmond property and buildings in New Mexico, Oklahoma, Illinois, Utah, Wisconsin and Iowa.

Such “noncore” assets cost more than $430 million to operate and maintain each year, an unidentified spokesperson from GSA told the Business Times last month.

The Biden administration had also sought to sell the Richmond building in 2023, along with 23 other properties. It said it wanted to update its federal real estate portfolio to benefit local communities and taxpayers.

The Frank Hagel Federal Building takes up 87 percent of the city’s 667,853-square-foot office market in Richmond, according to the Business Times.

Office vacancy in the East Bay city was 14.9 percent in the fourth quarter, according to CBRE.

— Dana Bartholomew