Office

While the energy sector slowdown of 2014/2015, and relocations by XTO to Houston and DR Horton to Arlington were headline stories, downtown has weathered the perceived storms, JLL observes.

For the full year, total private-sector jobs were up by 74,200 positions or 1.9% in 2018, marking the ninth consecutive year of positive job creation and the longest period of job gains on record.

The firm states that its MVP Fund will focus on middle market real estate-based investments including joint ventures, active or passive investments, urban infill development projects, income producing properties and substantial value-added renovations including historic properties.

“There are a range of units and options we discuss with landlords.”

The workplace services company has signed two new deals in Washington, DC in the East End and Penn Quarter totaling 152,000 square feet.

Investment properties here commands high prices commensurate with a well-established market and reliable long-term appreciation, as evidenced by one office property, The Harbors, currently for sale.

The sector has grown five times as fast as the local economy since 2000, adding more than 85,000 jobs.

Office owners are entering the co-working market, providing flexible workspace options to prospective tenants—and they are giving operators stiff competition.