WASHINGTON, DC-Yes, the fiscal cliff looms. Yes, DC's commercial realestate market is too heavilydependent on the federal government for comfort. Yes,every now and then we must suffer through the indignity of calls tomove the nation's Capitol to another city likeLouisville. Still, though, as veterans of this city'sCRE industry can tell you, business continues to get done.
Exhibit A is a recent reportby Targeted News, which reported on a number of federal contractssecured by companies in Virginia shortly before the Christmasholiday.
Among these was a $59.58 million contractawarded to Ballston Investor Group I from theGeneral Services Administration's Public Buildings Service "for thelease of up to 310,829 square feet of office andrelated space."
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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.
