WASHINGTON, DC—The average price per square foot for DC office assets is trending down, according to figures in a Newmark Grubb Knight Frank market research [PDF] report.
As of mid-December, the average price per square foot was $300 for transactions in the fourth quarter and $306 year-to-date in 2015, the report found.
While this is below the $366 per square foot 2014 average, it will likely rise once all of the last minute deals are tallied.
Still, there is no escaping that the metro area's five-year average quarterly price per square foot has been $344 per square foot.
The report assures readers that the region's office market will continue to attract capital given the likelihood of improving fundamentals in the years ahead; "however, there is some sentiment that pricing may have peaked for this cycle."
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