WASHINGTON, DC-Yes, the fiscal cliff looms. Yes, DC's commercial real estate market is too heavily dependent on the federal government for comfort. Yes, every now and then we must suffer through the indignity of calls to move the nation's Capitol to another city like Louisville. Still, though, as veterans of this city's CRE industry can tell you, business continues to get done.
Exhibit A is a recent report by Targeted News, which reported on a number of federal contracts secured by companies in Virginia shortly before the Christmas holiday.
Among these was a $59.58 million contract awarded to Ballston Investor Group I from the General Services Administration's Public Buildings Service "for the lease of up to 310,829 square feet of office and related space."
Contacts for the project include CBRE and Urban Adventures.
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