Federal Government Renews SEC Lease in DTLA, Proving DOGE Cost-Cutting Efforts Were All Bark and No Bite

The General Services Administration, the real estate arm of the federal government, has renewed the U.S. Securities and Exchange Commission's lease at 444 South Flower Street in downtown Los Angeles through September 2029, CoStar reported.

The SEC, the largest tenant at the 48-story building, occupies nearly 58,000 square feet of offices. This renewal comes after the GSA's push earlier this year to cut costs by abandoning some LA office space.

But the GSA also signed a 10-year lease renewal for the SEC's 44,000-square-feet offices in Philadelphia's Center City, raising questions about the true motive behind their cost-cutting efforts.

"It seems like the GSA was just barking without any real bite," said one industry insider, who wished to remain anonymous. "This move proves that their cost-cutting efforts were more about appearances than actually saving money."

Originally reported by The Real Deal.

https://therealdeal.com/la/2025/09/03/federal-government-renews-sec-lease-in-los-angeles/