Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-It’s a tenant’s market in the DC area. Still. For a period there, it appeared to patiently waiting landlords that the pendulum might be swinging back in their direction. Vacancy stats for the third quarter, along with a steady drumbeat of discouraging macroeconomic and political trends, killed that illusion. In short, leasing volume was down 40% in Q3 year over year, Tom Fulcher, EVP and Co regional manager of Studley, tells GlobeSt.com. “It was the total leasing activity we have seen for the DC area since the peak of the recession. Demand is just now there right now.”

“Q3 solidified the perception for a lot of landlords that it will be a tenant’s market for some time,” Chris Volney, research manager for Studley tells GlobeSt.com. “There is now a willingness on the part of landlords that maybe wasn’t there a year ago to negotiate more with tenants. They are coming to terms with the fact that there are not as many tenants out there.”

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?


Join 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
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.