As a Senior Vice President and member of the national practice Federal Lessor Advisory Group (FLAG), Marcy Owens Test is a Federal real estate expert with more than 30 years of experience. Her expertise lies in managing large and complex Federal real estate projects on behalf of owners and investors. She is sought out by many for technical knowledge in all aspects impacting Federal real estate including leasing, acquisition due diligence, market trends, Federal lease construction, lease administration and relationship management. She has completed hundreds of Federal projects across the United States with a total volume of more than ten million square feet.
Her successes in the Federal arena are tied to a high level of attention to detail. She understands the importance of maximizing value for her clients while translating investor needs into a federal context that the Government accepts.
USAA, Nationwide: Representing this client for numerous lease actions and lease administration activities throughout their national federally leased portfolio and most recently the 20-year renewal of the FBI Regional Headquarters in Chicago, IL.
Boston Properties, Washington DC: Represented this client on multiple large tenant renewals including the International Trade Commission headquarters.
EJM Equities, Queens, NY: Represented this client to renew the Federal Aviation Administration in their regional headquarters of more than 200,000 square feet.
Salus Federal Properties, Greensboro, NC: Represented this owner on multiple leases including the US Courts, SSA and the Department of State.
Somera Road, Falls Church, VA: Representing this owner in more than 400,000 square feet of lease renewals.
ASI, Philadelphia, PA: Represented this owner on the new 100,000 square foot lease for the US Army Corps of Engineers regional headquarters.
Moinian Group, Dallas, TX: Represented the owner on new 229,000 square foot lease for the Environmental Protection Agency regional headquarters.
Waverly Management, Philadelphia, PA: Represented the owner on a renewal of the US Attorneys Office lease and a new lease for the Department of Labor.
Republic Properties, Washington DC: Represented the owner on a new 430,000 square foot lease for Pension Benefit Guaranty Corporation and renewal of the Federal Communications Commission.
DRA Advisors, Atlanta, GA: Represented the owner on a new consolidation for FEMA’s Regional Headquarters and renewals of multiple CDC leases.
Eagle Canyon Capital, Bethesda, MD: Represented the owner for renewal of the National Institutes of Health for more than 249,000 square feet.
JBG Smith, Washington DC Metro: Represented the owner on the new lease for US Marshals Service for 355,000 square feet and renewal of Executive Office for Immigration Review for 176,000 square feet and various renewals for NTSB, FAA, HUD and Education in their L’Enfant Plaza project.
Morgan Stanley, Arlington, VA: Represented the owner for renewal of the State Department in 340,000 square-foot trophy quality asset.
JP Morgan Asset Management, Arlington, VA: Led a team to complete occupancy of a 700,000 square foot multi-tenanted office building.
Piedmont Office Realty Trust, Washington DC: Representing Piedmont in the leasing of 325,000 square feet to new federal tenants. Led the leasing effort to retain NASA for 600,000 square feet and DIA for 210,000 square feet.
Marcy joined Spaulding & Slye in 1997 where she helped create a Federal real estate practice, and when Spaulding & Slye was acquired by Jones Lang LaSalle in January 2006 her group merged seamlessly into the new organization. Marcy became a member of the CBRE Federal Lessor Advisory Group (FLAG) in 2012.
Prior to joining Spaulding & Slye, Marcy was a Project Team Leader with GSA in New York, NY responsible real estate transactions in New Jersey and the Caribbean. She also worked as a Contracting Officer for GSA in Denver, CO and Washington, DC.
- CBRE, George T. Quinn Lifetime Achievement Award – 2019
- CREBA, Top Regional GSA Leasing Agent – 2016 and 2014
- CREBA, Virginia Deal of the Year – 2015
- CoreNet Global Service Provider Leadership – 2005
- Selected for the National Team for “Can’t Beat GSA Leasing” Reinvention Initiatives – 1996
- National Performance Review’s Hammer Award for Lease Acquisition Redesign—1995
Professional Affiliations / Accreditations
- Member of the Board and Annual Conference Chair, National Federal Development Association
- Member, Dean’s Board of Advisors, American University, School of International Service
- Masters in International Management; University of Denver
- Bachelor of Art in International Service and Economics; The American University