DOGE says it has cut around 845,000 square feet of space for the US Bureau of Labor Statistics at the Postal Square Building in Washington.
Photographer: Kent Nishimura/BloombergThe Big Take
DOGE Risks a New $5 Billion Headache for Struggling US Landlords
The Trump administration is rapidly cutting office leases, adding space to an already strained commercial real estate market.
On a two-mile stretch of Washington, DC, lies evidence of the pain coming for the already beleaguered US commercial real estate market.
The Trump administration’s Department of Government Efficiency says it has canceled at least four leases in the area. Another three buildings nearby rank among the government’s most expensive office leases expiring this year — making them potential targets for cuts.