WASHINGTON, DC-The activity greatly exceeded Jones Lang LaSalles expectations from both a volume and pricing standpoint, JLL's research director Scott Homa tells GlobeSt.com.
By Erika Morphy|December 27, 2010 at 03:14 PM
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WASHINGTON, DC-The Washington, DC area saw some $5 billion in commercial real estate sales close in 2010, according to new figures from Jones Lang LaSalle. This equates to more than double that of 2009 and $1 billion more than 2008. Indeed the year was a pivotal one for the area’s commercial real estate markets, which saw three trades breach the $800 per square foot sales price, out of a total of seven all together. These top three were 1225 Connecticut Ave., NW; 1899 Pennsylvania Ave., NW; and Evening Star Building. In fact, 1225 Connecticut became the first building in DC ever to eclipse the $900 per square foot mark.
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