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the u.s. General Services Administration or GSA is focused on achieving taxpayer savings by avoiding increase lease costs through the timely replacement of expiring leases GSA is currently seeing portfolio consists of more than 8,000 leases equating to more than 180 seven million rentable square feet of space sixty-six percent of leases expire within the next five years this represents a huge level of real estate churn occurring across the United States and a tremendous opportunity to reduce real estate costs to agencies allowing them to focus funding on mission priorities PBS's annual leasing budget is 5.6 billion dollars with 20% of GSA leases accounting for 77 percent annual leasing costs that's why we've developed a strategy to address expiring leases within our portfolio to maximize cost avoidance first we get the highest level of cost avoidance per project by avoiding leasing all together and backfilling existing vacant federal space we also back fill vacant leased space when suc

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