The Capitol

WASHINGTON, DC–There is 1.1 million square feet of trophy office construction in the District’s pipeline that will deliver by the end of 2017. That does not bode well for DC’s vacancy rate but should offer some upside for Northern Virginia, especially should defense-related federal agencies get the funding expected in this current budget round, according to Doug Ressler, director of Business Intelligence at Yardi-Matrix.

All of this — from a a dramatic slowdown in both leasing and building in the District to signs of economic improvement in Northern Virginia — will occur in the next 12 months, he tells GlobeSt.com.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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