WASHINGTON, DC—Maybe DC-area residents are dreading the upcomingpresidential election. What local wouldn't? There's more traffic,more (much more) advertising and unsolicited phone calls andfriends and neighbors that work for the federal government becomestressed out and grouchy by the uncertainty and work crunch.

But the local CRE community is looking forward to the 2016presidential elections for the most fundamental of reasons.History, courtesy JLL research, shows that demandfor office space will pick up significantly, driving up rentalrates.

The candidates themselves will need space but that is not themain driver. Rather, the rush to pass legislation at the end ofpresidential terms and the resulting increase in special interestand lobbying is what really pushes leasing demand.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.