And the Most Important Office Product in DC Is....

WASHINGTON, DC—JLL and Newmark Grubb Knight Frank have both released reports on the state of DC's leasing market. Their findings seem to be at odds – but only if you don't take a close look.

By Erika Morphy | Updated on June 19, 2015

WASHINGTON, DC—In the last week both JLL and Newmark Grubb Knight Frank released separate reports on leasing trends in the DC area. At first glance they almost seem to be talking about two different cities. NGKF focused on the bifurcation of office market, which has become far more profound in a surprisingly short period of time. This gap is highlighted by the growing popularity of trophy product.

JLL, for its part, looked at the increasing number of tenants in the DC market gravitating to non-core Class A and Class B buildings as rents in trophy properties increase. These tenants — which tend to be associations or media or non-profits — like the Class B product for several reasons, not only the cheaper rents.

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