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U.S. General Services Administration·District of Columbia

Lease of Office Space within Sioux Falls, SD. Request for Lease Proposals (RLP) #26NATO1

Closes 9/8/2026$300k – $600kRequest for Proposal
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Description

The General Services Administration (GSA) is seeking competitive lease proposals for a newly‑constructed or existing office space in Sioux Falls, South Dakota. The required space is between 1,809 and 1,900 ABOA square feet, configured as three private offices, three workstations, a LAN room, reception, conference, and training rooms. The lease term is 15 years (13 years firm) with an 8‑year amortization for tenant improvements. The government prefers second‑generation office space with minimal build‑out and may accept existing furniture at no cost. Parking includes one surface space for official government vehicles. The tenant improvement allowance is $61.52 per ABOA SF; no building‑specific amortized capital is required.

Attached files

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Contact

Paul Koch

[email protected]

(212) 264-9388

Key dates

Opened
7/14/2026
Closes
9/8/2026
Duration
15 years

Last updated

Details

Type
Request for Proposal
Industry
Real Estate
NAICS
531120
Solicitation №
_6SD0089

Budget estimate

$300,000 – $600,000

Assuming a market rent of roughly $15‑$20 per square foot per year in Sioux Falls, the 1,850 SF space would generate $27,750‑$37,000 annually. Over a 15‑year lease, total revenue would be approximately $416,000‑$555,000. Adjustments for the tenant‑improvement allowance ($61.52 × 1,850 ≈ $113,800) are paid to the lessee, not revenue, so the net budget to the lessor remains within the rent range. Therefore a reasonable estimate for the contract value is $300,000‑$600,000, accounting for potential rent escalations, vacancy risk, and negotiation outcomes.

AI estimate from the solicitation

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