WASHINGTON, DC-The commercial real estate initiatives of thiscity and surrounding area, not the political entity otherwise knownas the nation’s Capital—seems to fare better when Republicanscontrol both sides of Congress. That is the eyebrow-raisingconclusion of a CBRE study—a finding thatsurprised the report authors as well. “We weren’t expecting thenumbers to be so lopsided,” Marianne Swearingen,CBRE research manager, tells GlobeSt.com.
CBRE found that over the past 20 years, when Republicans were incontrol of both sides of Congress, there was 78.5 million squarefeet of existing and new construction absorbed, or 7.8 millionsquare feet on average, in every year they were in control.
When the Democrats controlled Congress, some 17.9 million squarefeet were absorbed, or 2.5 million annually, on average. WhenCongress was divided, those numbers clocked in at 515,049 squarefeet and 128,762 square feet per year.
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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.
