Library of Congress (AOC), Washington, DC
MGAC provided workplace and real estate portfolio rebalancing strategies for the Library of Congress (LoC) through a task order contract with the AOC. Mission-driven LoC functions included permanent storage of a host of artifacts and US-published and copyrighted material, logistical warehousing, as well as a separate function, National Library Services, which provides reading enhancements and services for the visually impaired. The study included real-time market analysis and pricing of real estate alternatives involving government private partnerships. Efforts focused on the relocation of a group of mission driven functions from over 200,000 SF of non-NARA (National Archives and Records Administration) compliant space to a new facility with a suitable archival environment. Efforts included a comprehensive needs analysis including research into high-density storage systems and warehouse processes which resulted in a facility profile with 40% less square footage than the current facility.
MGAC modeled multiple development and financing options for the new facility with corresponding comparisons of components including First Cost, Net Present Value and 50 Year Operational and Maintenance. Property searches were conducted and building analysis reviewed for 30 available properties within an acceptable geographic radius. The analysis of build-to-suit options included calculating developer return on investment and other drivers.