WASHINGTON, DC–A new research note from JLLconcludes that lack of creative space for tech firms may lead tonew supply even as the trophy and class A Downtown market isalready at risk for oversupply.
Job growth in the tech sector in the Washington DC area will bethe driver behind this development, according to stats byJLL Research Analyst Leah Smith. Over the pastfive years, the number of tech jobs in Washington, DC has increasedby more than 20%, in comparison to a 0.1% decrease from 2007 to2012. “As a share of total office jobs, tech jobs now comprise 10%of the employment base,” she writes in the note.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
