WASHINGTON, DC—An initial tally of investment sales in the DC market to date this year, through Q3, comes to nearly $3.1 billion. That is the conclusion of JLL's Scott Homa and Bill Prutting, whom will be elaborating more on these numbers and the trends behind them in a later interview.
With or without their analysis, though, this is excellent progress as the sales represent an increase of nearly 33% year over year compared to 2014 and the highest sales volume achieved in recent history. So far a total of 18 properties have traded within the District of Columbia.
In addition, Homa and Prutting expect the year to end on a very high note. There is approximately $785 million under contract and nearly $1 billion that is expected to close before yearend.
Pricing, too, has been strong, with sales averaging about $714 per square foot.
Come back tomorrow to hear Homa and Prutting's take on these numbers and additional details behind their preliminary findings.
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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.
