It is a typical pattern for DC right now, Marr "For tenants seeking Class A space in DC, who want inexcess of 75,000 square feet, we are seeing firms desiring longerterm leases to lock in rates and expansion options at today'spricing."


Indeed, the latest statistic from Jones Lang LaSalle quantifythis trend. Renewals continue to comprise an above-averageproportion of private sector transaction volume in Washington, DC,JLL's Research Manager Scott Homa tells


"Although government agencies are often signing long-termrelocations and expansions, private sector tenants are naturallydrawn to renewals in this environment because they're typically themost economical way to achieve strategic real estate goals," hesays.


The ability of the Downtown DC market to retain marquee tenantslike the Carlyle Group speaks volumes to the stability, durabilityand desirability of the area, Homa adds. "Although neighboringmarkets like Northern Virginia may be able to offer considerabletax advantages relative to the District, the amenity base,accessibility and prestige of the downtown market continues toeffectively attract and retain tenants. The core downtown marketsof the East End and CBD offer a combined vacancy rate of 11.2%,which is deeply below the Metro DC average of 16%."

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