RealShare EXCLUSIVE: Government Agencies' Demand for Space Will Be Key Issue

"RealShare Northern Virginia will bring together the market's leading dealmakers and figures for a combination of top-shelf information and terrific networking--and attendees can be back in their offices before noon," says Richard Kelley, director of the RealShare conference series. "That's a great combination, and we look forward to a great event in one of the most active and exciting markets in the country."

Benefiting from its position as a suburb of Washington, DC, Northern Virginia has been thriving, in part, due to the government's increase in demand for space for the growing US Department of Homeland Security and other federal agencies. Other factors include the resulting desire for government contractors to locate near the agencies, and other businesses' need for more options and lower rental rates than those available in the District. "Northern Virginia is an exciting, roller-coaster market, and for the past year it has been red-hot," Kelley adds. "We cover the market to a good degree at our annual RealShare Washington, DC conference, but we felt this is a market that warrants special attention and its own event, and as evidenced by the strong attendance we expect tomorrow, the market evidently agrees."

The conference will kick off with a town hall meeting headlined "Can the Good Times Last?" It will explore the market's rise in the shadow of Washington, DC, as well as its unique attributes. Issues to be addressed include what role the government might play with regard to future large space needs, or lack thereof, as a consequence of the US Department of Defense's Base Realignment and Closure plans; and the potential saturation of the of the condominium market due to the proliferation of condo conversions and new condo developments. Sitting on the panel will be Jones Lang LaSalle's W. Michael Ellis, CarrAmerica's David Bevirt, Opus East's Scott Brody, Lerner Enterprises' Arthur Fuccillo, the US General Services Administration's Jim Smale, Trammell Crow Co.'s Spencer Stouffer and Cushman & Wakefield's David Webb. Additionally, a series of breakout sessions on such subjects as the characteristics of investors that are most active in the market, multifamily market dynamics and property financing will allow attendees to take a closer look at these issues.