In Q1 the Washington office market recorded a vacancy rate of9.4%. This compared with 8.9% in Q4 2006 and 8.9% 12 monthsago.
"It is not that significant of a rise," report author andresearch director Tonya Ginter tells GlobeSt.com. "As usual,government activity--leasing by government agencies andcontractors--is keeping the Washington metro area strong."
The larger-than-usual impact of the government, though, can bemost seen in the rents for class B buildings, the favored space forcontractors and the government. "We are seeing rents increase forclass B buildings, because that is where these agencies typicallygo," Ginter says.
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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.
