Transwestern Commercial Services recently completed an 86,000-square-foot lease with FEMA (the Federal Emergency Management Agency) at the Westpark Office Building in New Orleans, La.
The value of the transaction was not disclosed.
The class A space will serve as the new regional headquarters of FEMA. The New Orleans FEMA office was opened to respond to the New Orleans and Gulf Coast devastation caused by Hurricane Katrina. FEMA occupied approximately 75 percent of the building at the time of the transaction and is expected to grow as recovery efforts continue throughout the area.
The Westpark Office Building is located at One Siene Court in the suburban West Bank submarket of New Orleans and is owned by The Hertz Investment Group.
Transwestern represented the owner of the project, The Hertz Investment Group, in the lease. Corporate Realty represented FEMA.
FEMA prepares the nation for all hazards and manages federal response and recovery efforts following any national incident. FEMA also initiates mitigation activities, trains first responders, works with state and local emergency managers, and manages the National Flood Insurance Program and the U.S. Fire Administration. FEMA became part of the U.S. Department of Homeland Security on March 1, 2003.
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