DC Leasing Does Well In Q2

DC’s K street

WASHINGTON, DC–CBRE reports that both downtown and suburban DC office markets recorded healthy demand growth in the second quarter. The downtown market absorbed 1.2 million square feet of office space, due in large part to the delivery of six buildings totalling 2.4 million square feet that allowed tenant move-ins. The much anticipated 770,000 square-foot move-in by Fannie Mae at Midtown Center was among these buildings.

“Halfway through 2018, we’re seeing some cautious optimism throughout greater Washington’s office markets, prompted by tenant expansions from a variety of industry sectors, including coworking, tech, and business and financial services,” says Wei Xie, Research Manager of CBRE Washington/Baltimore. “However, we expect vacancy rates to inch up in the next 18 months due to the amount of development in the pipeline.”