ROSSLYN, VA-With work nearly finished on Monday Properties' 390-foot office tower here, the developer continues its quest to try and strike a deal to land the properties' first tenant.
The high-profile 580,000-square-foot building at 1812 North Moore is the second tallest building in the region, second only to the Washington Monument, according to the Washington Post.
Commercial brokers in the region say the lack of leasing activity is due to the market, not the building, noting that sequestration, a number of near fiscal cliff plunges and a government shutdown have battered the district office market.
“I don't think it's the fault of 1812 North Moore. I think people in this market gravitate to Class A property and that is certainly Class A,” said Cathy A. Delcoco, executive vice president at CBRE in Tysons Corner, VA. “It has nothing to do with the location and the property itself. I think it's more the abysmal activity in the market. The market is just really slow with activity.” See story in the Washington Post.
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