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DOGE lease Cancellations "Concerning" Maybe Black Swan

 I am only going to write the details of the Massachusetts DOGE savings for cancelled leases.



  • 1600 Osgood St., North Andover Center: A lease for 5,300 square feet of office and special-purpose space used by the Drug Enforcement Administration that was set to expire in January 2026.
  • 325 Chelmsford St., Lowell: A lease for 3,900 square feet of warehouse space used by the National Park Service that was set to expire in September 2028.
  • 900 Chelmsford St., Lowell: A lease for 26,752 square feet of office and special-purpose space used by the Internal Revenue Service that was set to expire in September 2026.
  • 451 West St., Amherst: A lease for 22,428 square feet of office space used by the Natural Resources Conservation Services, a part of the U.S. Department of Agriculture, that was set to expire in August 2025.
  • 9 Main St., Sutton: A lease for 1,273 square feet of office used by the U.S. Department of Agriculture’s Animal and Plant Health Inspection Service space that was set to expire in July 2027.
  • 1 Federal St., Springfield: A lease for 894 square feet of office space used by the Small Business Administration that was set to expire in June 2028.
  • 1550 Main St., Springfield: A lease for 14,036 square feet of office space used by the Internal Revenue Service that was set to expire in March 2027
  • 1141 Main St., Springfield: A lease for 599 square feet of office space used by the Employment Standards Administration that was set to expire in July 2029.
  • 10 Bearfoot Road, Northborough: A lease for 20,893 square feet of office and warehouse space used by The United States Geological Survey that was set to expire in November 2029.
  • 140 Shrewsbury St., Boylston: A lease for 2,360 square feet of office space used by the Food and Drug Administration that was set to expire in June 2027.
  • 118 Turnpike Road, Southborough: A lease for 10,787 square feet of office space used by the Internal Revenue Service that was set to expire in November 2029.
  • 146 Mendon St., Uxbridge: A lease for 4,852 square feet of office space used by the U.S. Department of Agriculture’s Animal and Plant Health Inspection Service that was set to expire in November 2029.
  • 210 Beacham St., Everett: A lease for 2,789 square feet of office space used by the Agricultural Marketing Service that was set to expire in August 2028.
  • 138 River Road, Andover: A lease for 4,903 square feet of office space used by the Occupational Safety and Health Administration was set to expire in April 2026.
  • 300 Westgate Center Drive, Hadley: A lease for 72,220 square feet of office and special-purpose space used by the U.S. Fish and Wildlife Service that was set to expire in December 2032.
  • 120 Front St., Worcester: A lease for 14,511 square feet of office space used by the Internal Revenue Service that was set to expire in June 2028.
  • 446 Main St., Worcester: A lease for 5,506 square feet of office space used by the U.S. Trustee Program, a component of the Department of Justice, that was to expire in November 2030.
As you can see lots of cuts of office lease's specifically the IRS.  This is just weeks after mandating all federal workers back to the offices.  These leases are a mix of lease lengths which will save $5 million over the current year.  It will save $22 million over what appears 7 years.

All of these are leased properties that owners will need to find new tenants for as some where longer term leases.  This is going to put further pressure on the lack of demand for commercial real estate.  These lease cancellations will not be conducted gracefully, as we have seen with all other actions of DOGE and Elon Musk.  The method of cancellations all at once will be a shock to the market all at once.  Most other times with mass lease cancellation its more of a gradual build up of and not the sudden increase.

I will keep my eyes on aftershocks of this in the next few months.
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