WASHINGTON, DC-First quarter was not as bad as many feared and not as good as many had hoped for reasons explored here.
With little further ado, here is how the DC area clocked in for the quarter, according to Jones Lang LaSalle:
The DISTRICT
Direct Net Absorption (SF): 106,911
Total Net Absorption (SF): -2,423
Direct Vacancy (SF): 12,515,949
Direct Vacancy (%): 11
NORTHERN VIRGINIA
Direct Net Absorption (SF): -153,937
Total Net Absorption (SF): -16,801
Direct Vacancy (SF): 23,413,514
Direct Vacancy (%): 15.9
SUBURBAN MARYLAND
Direct Net Absorption (SF): 70,789
Total Net Absorption (SF): 66,566
Direct Vacancy (SF): 10,620,504
Direct Vacancy (%): 16.3
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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.
