4CO0555_JOFOC V4_Redacted.pdf

This document is a Justification for Other Than Full and Open Competition (JOFOC) for a lease extension by the U.S. General Services Administration (GSA) for Armed Forces Recruiting in Denver, CO. The document details a 34-month non-firm term lease extension for 23,691 ABOA/27,482 rentable square feet at 621 17th Street, commencing on March 1, 2025, under existing lease number LCO14774. The lease extension is justified by the tenant's need for additional time to buildout and move to building 25 at the Denver Federal Center, with the current location allowing continued operations without disruption.

Market research conducted on 3/29/2024 showed rental rates in the area ranging from $26.52 to $39.13 per rentable square foot. The initial lease terms include a first-year rate of a redacted amount per RSF for shell, operating costs, and 30 parking spaces, with subsequent 22 months at a different rate aligned with the Denver market. The GSA Lease Contracting Officer determined the extension to be in the government's best interest, as it avoids relocation costs and maintains operations, with the cost deemed fair and reasonable after negotiations that reduced the initial return-to-white-box condition proposal.