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Cushman & Wakefield tapped to sell 7 DHS warehouse properties

The federal government paid $706.5 million for the seven warehouses totaling 5.4 million square feet, and bids are expected to value them at about $600 million.

Reported · Written up by our desk · Industry

Bisnow reports the federal government selected Cushman & Wakefield as the brokerage team to sell seven warehouses that had previously been slated to become detention facilities.

The warehouses, which will be sold individually, were part of a larger group DHS had planned to sell or give away, after DHS spent more than $1 billion buying 11 warehouses over roughly a year.

According to Bisnow, the seven properties total 5.4 million square feet and were purchased for $706.5 million, with Bids expected to value the assets at around $600 million, about $100 million less than the government paid.

Bisnow also reports that Cushman & Wakefield, DHS, and U.S. Customs and Border Protection did not respond to requests for comment, while an Immigration and Customs Enforcement spokesperson said announcements would be made at the appropriate time.

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