DC Market Wraps Up $1.9B in Office Sales

WASHINGTON, DC-Cassidy Turley's Q1 report also anticipates cap rates to rise in the region as interest rates inch up.

By Erika Morphy | Updated on May 06, 2011

WASHINGTON, DC-Not surprisingly, the Washington DC area delivered a solid performance in real estate investment office sales for the first four months of this year, Cassidy Turley reports. In Q1, $1.9 billion in transactions closed, putting the area on pace to exceed the $5.4 billion that typically closes in any given years.

There are many reasons that account for the DC area’s health, key being its strong employment rate. Cassidy Turley pointed out that at the end of Q1 unemployment stood at 5.8%, the lowest rate for any metro area. It also noted that cap rates are expected to start rising this year, after experiencing a compression of some 150 basis points in 2010.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2023 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.

Dig Deeper

Recommended Stories

Negotiations Between WeWork and Its Landlords Get Tense

Erik Sherman | November 28, 2023

Landlords push back against the forced negotiation powers a company in bankruptcy has.

CRE Discovers a New Capital Partner: Their Solar Provider

Nicki Howell | November 30, 2023

Commercial real estate owners look to solar to stabilize NOI, create an additional source of revenue, and even to generate capital.

One Week Left to Nominate a Top CRE Workplace

Ingrid Tunberg | November 29, 2023

Nominate your company to be recognized as one of the industry’s best places to work. The submission deadline is December 6!

Resource Center

HVAC use accounts for 50% of the total energy consumption of your commercial office buildings. Why wouldn’t you optimize its efficiency? Download this white paper and learn how you can slash costs, enhance tenant satisfaction, and boost sustainability.

Report

Sponsored by Building Engines

The ROI of HVAC Optimization in Commercial Office Buildings

HVAC use accounts for 50% of the total energy consumption of your commercial office buildings. Why wouldn’t you optimize its efficiency? Download this white paper and learn how you can slash costs, enhance tenant satisfaction, and boost sustainability.

Browse More Resources ›

This white paper delves into the alarming surge in renter fraud within the multifamily housing sector. Discover the various drivers behind these trends and how you can stay ahead of the evolving fraud landscape.

White Paper

Sponsored by TheGuarantors

Addressing the Surge of Renter Fraud in Multifamily Housing

This white paper delves into the alarming surge in renter fraud within the multifamily housing sector. Discover the various drivers behind these trends and how you can stay ahead of the evolving fraud landscape.

Browse More Resources ›

What are your goals as an asset or property manager? This interactive tour walks you through customizing your own platform to help meet your goals such as maximizing revenue, optimizing operations, adding value to your properties, and attracting the right tenants.

Interactive Resource Center

Sponsored by Building Engines

How Prism helps CRE Managers Exceed Goals

What are your goals as an asset or property manager? This interactive tour walks you through customizing your own platform to help meet your goals such as maximizing revenue, optimizing operations, adding value to your properties, and attracting the right tenants.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.