Cushman & Wakefield

Rule Changes

Marketing the Federal Warehouse Portfolio

The federal government is selling the Salt Lake City warehouse it bought in March for immigration detention, along with six other buildings U.S. Immigration and Customs Enforcement (ICE) acquired this year. Commercial real estate firm Cushman & Wakefield lists the seven sites, 5.3 million square feet in all, as its Federal Warehouse Portfolio, and the listing does not mention ICE. Green Street News reported an opening bid of $114 per square foot, about $600 million, roughly 15 percent below what the government paid.

Updated Oct 27