District of Columbia

U.S. Economy Adds 130,000 Jobs in January, Doubling the Expectation from Economists

by John Nelson February 11, 2026

WASHINGTON, D.C. — The U.S. economy has added 130,000 new jobs in January, according to the delayed employment summary from the U.S. Bureau of Labor Statistics (BLS). The gain more than doubles the expectations from Dow Jones economists, who forecasted 55,000 new jobs to be added, according to CNBC. The unemployment rate also came in better than expected, declining by 10 basis points to 4.3 percent. Additionally, the BLS made minimal revisions from November and December. Combined the revisions totaled 17,000 fewer jobs. Among employment sectors, healthcare led the pack in January by adding 82,000 jobs. Within the sector employment was concentrated in ambulatory services (50,000), hospitals (18,000) and nursing and residential care (13,000). Job growth in healthcare averaged 33,000 jobs in 2025, according to the BLS. Other sectors that saw significant gains in January include social assistance (42,000) and construction (33,000). Federal government employment continued to decline, with 34,000 job losses registered in January. The BLS notes that some federal employees who accepted a deferred resignation offer in 2025 officially came off federal payrolls last month. Since reaching a peak in October 2024, federal government employment is down by 327,000, or 10.9 percent. Many of the job cuts can …

February 11, 2026

Development District of Columbia Hospitality Industrial Loans Southeast

DC Green Bank, Nuveen Green Provide $42M C-PACE Loan for Hotel Conversion Project in D.C.

by John Nelson February 10, 2026

WASHINGTON, D.C. — DC Green Bank and Nuveen Green Capital have closed $42 million in C-PACE financing for a hotel conversion project in Washington, D.C. The project is a repositioning of a former warehouse in the city’s Georgetown district into the new 230-room citizenM Georgetown hotel. The borrower, Another Star, will operate the hotel upon completion of the conversion, which is expected for this summer. The project will include installing efficient HVAC, water heaters, insulation and lighting systems, which are estimated to save the property owner approximately $46,000 in utility costs per year. Another Star manages 37 citizenM hotels in the United States and Europe.

February 10, 2026

District of Columbia Hospitality Loans Southeast

Newmark Arranges $99M Loan for Refinancing of Hotel at The Wharf in D.C.

by Abby Cox February 9, 2026

WASHINGTON, D.C. — Newmark has arranged a $99 million loan for the refinancing of the Intercontinental Washington, D.C. – The Wharf, a 278-room hotel located within The Wharf, a 3.5 million-square-foot mixed-use development on the southwest Washington, D.C., waterfront. Jordan Roeschlaub, Nick Scribani, Tyler Dumon and Tate Keir of Newmark arranged the loan through Morgan Stanley on behalf of the borrower, CarrAmerica, a locally based real estate investment, development and management firm. Completed in 2017, the 250,000-square-foot hotel spans 12 stories and features a first-floor restaurant, as well as 6,000 square feet of retail space. Guest amenities include a 5,000-square-foot ballroom, 4,000 square feet of meeting space, a spa, fitness center, restaurant bar and lounge, rooftop pool and bar and an underground parking garage.

February 9, 2026

Acquisitions District of Columbia Office Southeast

Carr Properties, Barings Purchase 12-Story Office Building in Downtown D.C.

by John Nelson January 27, 2026

WASHINGTON, D.C. — A partnership between Carr Properties and Barings has purchased a 12-story office building located at 1401 New York Ave. NW in downtown Washington, D.C. Eastdil Secured represented the undisclosed seller in the transaction. The sales price was also not disclosed. The new ownership plans to fully renovate the 211,500-square-foot building with a new enclosed amenity space on the rooftop, as well as upgrades to the office building’s lobby, fitness center and conference facilities. Current tenants at the LEED Gold-certified building include Boies Schiller Flexner, Capstone, Vedder Price and Nossaman.

January 27, 2026

District of Columbia Market Reports Office Southeast Southeast Market Reports

Demand for Trophy Buildings Sets the Tone for D.C.’s Office Market

by John Nelson January 13, 2026

Fundamental macroeconomic changes in the U.S. office market, combined with the enduring resilience of Washington, D.C., make this a unique moment for investment in the region’s office sector. Forward-thinking, data-driven analysis will uncover unprecedented opportunities. Persistent flight-to-quality trends continue to drive a polarization of the D.C. office market more severely than the national average, with trophy vacancy lower and commodity vacancy higher than the overall U.S. office market. Recent sharp federal government cutbacks have caused uncertainty throughout 2025, driving additional occupancy loss in the commodity segment of the market, while a resilient private sector shows seemingly endless demand for top-quality space. Overall, midsized and large private sector tenants in the market plan to grow by an aggregate 350,000 square feet. Expected growth will be driven by law firms, higher education institutions, business and financial services firms and trade associations, including several new-to-market tenants. As a result, standard Class A and B/C vacancy rates are hovering at historic highs of 24 percent and 26 percent, respectively, while trophy vacancy sits at a historic low of 10.2 percent. The overwhelming majority of large and mid-sized blocks of top-quality space are also encumbered. If trophy space continues to be absorbed at the same …

January 13, 2026

District of Columbia Southeast

BLS: U.S. Economy Adds 50,000 Jobs in December, Unemployment Rate Falls

by Abby Cox January 12, 2026

WASHINGTON, D.C. — The U.S. economy has added 50,000 non-farm payroll jobs in December, according to a report from the U.S. Bureau of Labor Statistics (BLS). The December figure fell short of the downwardly revised 56,000 in November and short of the Dow Jones estimate for 73,000, according to CNBC. The BLS also revised downward the employment figures for October, from a loss of 68,000 jobs to -173,000. Over the course of 2025, payroll gains averaged 49,000 per month, compared with 168,000 in 2024. Meanwhile, the unemployment rate edged down slightly to 4.4 percent, which reflected small shifts in the household survey rather than a surge in hiring. Federal government employment changed little in December (+2,000), but since reaching a peak in January, employment is down by 277,000 jobs. Additionally, retail trade lost 25,000 jobs in December. Over the month, employment declined in warehouse clubs, supercenters and other general merchandise retailers (-19,000) and food-and-beverage retailers (-9,000). However, electronics and appliance retailers added 5,000 jobs. Jobs gains in December were primarily concentrated in service-oriented sectors, such as food services and drinking places (+27,000), healthcare (21,000) and social assistance (17,000). Employment showed little or no change over the month in other major industries, …

January 12, 2026

Affordable Housing Development District of Columbia Loans Multifamily Office Southeast Top Stories

Nuveen Green Capital Provides $465M C-PACE Financing for Office-to-Residential Conversion Project in D.C.

by Kristin Harlow January 7, 2026

WASHINGTON, D.C. — Nuveen Green Capital (NGC) has provided $465 million in C-PACE financing for The Geneva, an office-to-residential conversion project in Washington, D.C. The transaction represents the largest Commercial Property Assessed Clean Energy (C-PACE) financing in history as well as D.C.’s largest office-to-residential conversion to date, according to NGC. The borrower, Philadelphia-based developer Post Brothers, also received a $110 million senior loan from investment firm Mavik, bringing total financing to $575 million. The project’s overall price tag is $750 million, according to The Wall Street Journal. Located at 1825-1875 Connecticut Ave. NW, the 604,000-square-foot office property is comprised of two nine-story towers at the confluence of D.C.’s upscale Kalorama, Dupont Circle and Adams Morgan neighborhoods. The property will be converted into a 15-story luxury apartment building with 429 market-rate units, 42 extended-stay rentals, 61 affordable housing units and 57,000 square feet of commercial space. A timeline for construction was not provided. The $465 million in C-PACE financing was administered through DC Green Bank, which serves as the administrator of the DC PACE program on behalf of the District of Columbia. The DC PACE program is a special financing option for renewable energy projects such as solar, energy efficiency upgrades …

January 7, 2026

Data Centers District of Columbia Industrial Market Reports Southeast Southeast Market Reports

Has D.C.’s Industrial Sector Shifted to a Tenant’s Market?

by John Nelson January 5, 2026

As 2025 closes, data suggests that the greater metropolitan Washington, D.C., area is stable but, like most markets nationally, remains below the industrial peak values achieved post-pandemic when vacancy rates hovered below 5 percent. That is no surprise, as we may never experience another “perfect storm” scenario in our lifetimes. The overall market for industrial buildings 100,000 square feet and larger is a healthy 6.3 percent, inclusive of data centers. A significant percentage of vacancy is masked by the build-out of data centers in Northern Virginia because, removing this asset class, the vacancy increases to approximately 9.1 percent. The number increases closer to 10 percent when we focus more specifically on logistics spaces, according to data from CoStar Group. Confidence remains strong for leasing activity in larger Class A industrial buildings, but the underlying economic fundamentals, uncertainty in tariff policy and geopolitical instability could lead to a continued trend of higher vacancy rates in the future. Consumer spending underpins the economy and is increasingly dependent on wealthier households who account for the majority of spending. Low- and middle-income households have continued to be squeezed by the rising costs of food, fuel and housing, which impacts the demand for shipped, manufactured …

January 5, 2026

District of Columbia Market Reports Restaurant Retail Southeast Southeast Market Reports

D.C. Retail Remains a Great Opportunity, If You Know Where to Look

by John Nelson December 22, 2025

The Washington, D.C., commercial real estate market is intricate, shaped by broad economic trends and local dynamics. The recent federal government shutdown underscored ongoing challenges, intensifying uncertainty and slowing local transactions. Continued ambiguity around trade and tariff policies further complicates business planning, adding to the region’s cautious dealmaking environment. Anxiety affects the region’s key economic source: federal workers and contractors, who make up 40 percent of its economy. Since January 2025, federal job losses here have outpaced the national average, increasing the risk of a local slowdown. Despite the area’s wealth, ongoing job uncertainty should guide all investment and operational choices. The interplay between federal employment trends and local business activity means that investors and operators must remain vigilant, adapting strategies to respond to shifting workforce dynamics and consumer sentiment. Tale of two marketsThe D.C. retail market is split: downtown faces challenges due to office vacancies and low weekday traffic, while suburban and residential-heavy urban areas are thriving. Affluent spots in Northern Virginia and Suburban Maryland have the lowest vacancy rates thanks to stable local shoppers. These areas benefit from consistent foot traffic and resilient spending patterns, which help insulate them from broader economic volatility. From a capital markets perspective, …

December 22, 2025

Acquisitions Development District of Columbia Leasing Activity Office Southeast

BXP Buys D.C. Office Building for $55M, Plans Redevelopment Following Sidley Austin Anchor Lease

by Abby Cox December 19, 2025

WASHINGTON, D.C. — BXP has acquired 2100 M Street, a 300,000-square-foot office building located in the West End of Washington, D.C., for $55 million. The publicly traded, Boston-based office REIT plans to demolish the existing building and develop a new 320,000-square-foot office tower. BXP expects to commence construction of the project in 2028. Eastdil Secured represented the undisclosed seller in the transaction. Additionally, Sidley Austin LLP has signed a 240,000-square-foot lease to anchor the future trophy property, occupying 75 percent of the building. The global law firm will be situated on the fourth through 10th floors and is scheduled to move into its new space in 2031. Lou Christopher and Jordan Brainard of CBRE represented Sidley Austin in the lease transaction.

December 19, 2025

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