Nation’s No. 1 Data Center Market in Northern Virginia Isn’t Done with Boom Cycle

The Northern Virginia data center market continues to outpace the rest of the country’s leading data center markets by more than double. By the close of the first half of 2018, Northern Virginia had 317 megawatts (MW) under construction with Phoenix a distant second at 136.5 MW. (In real estate terms, industry standard is approximately 150 watts per square foot.) What drives Northern Virginia as the leader today is an unparalleled business ecosystem that has grown over the past 20 …

February 11, 2019District of Columbia, Market Reports, Southeast, Southeast Market Reports

D.C.’s Multifamily Market Sees Strong Demand for its Healthy Development Pipeline

Washington, D.C.’s multifamily market has enjoyed success in recent years, and 2018 has been no exception. The regional economy continues to function at an extremely healthy level, adding 77,100 new jobs in the trailing 12 months ending July 2018, much more than the annual average of 41,000 since 2010. The region has outgrown its previous dependence on the federal government, which contracted by 4,800 jobs over the same period, further highlighting the strength of the region’s private …

February 4, 2019District of Columbia, Market Reports, Multifamily, Southeast Market Reports

Amenities, Transit Push D.C.’s Central Business District to New Heights

Investors have renewed their interest in office properties in the Washington, D.C. central business district (CBD) based on increasing tenant demand. The market is putting a higher value on the built-in amenities that exist in the CBD, like dining and entertaining options, transportation accessibility and architecturally timeless buildings. We can always tell the center of gravity of a city by where the brokerage shops locate. In D.C., CBRE’s latest move to the CBD from the East End puts …

January 28, 2019District of Columbia, Market Reports, Office, Southeast, Southeast Market Reports

Land Constraints, Demand from Big Data Spur Rent Growth in D.C. Industrial Market

The 195 million-square-foot Washington, D.C., metropolitan industrial market features various sectors and centers of demand across the region. The overall market has been extremely healthy, with unique forces impacting the area’s primary regions of Northern Virginia, Suburban Maryland and Washington, D.C. The overall metro market expanded between first-quarter 2017 and first-quarter 2018. Net absorption in the period was 1.7 million square feet, albeit a significant slowdown from the …

August 27, 2018District of Columbia, Industrial, Market Reports, Southeast, Southeast Market Reports

D.C. Region Sees More Development as Tenants Seek Efficient, Amenity-Rich Office Space

On the surface, the Washington, D.C., metropolitan office market has shown little change over the past five years. But dig a little deeper, and some interesting trends emerge. Metro D.C.’s office market totaled 377 million square feet as of the third quarter of 2017 and recorded a vacancy rate of just under 15 percent — inclusive of sublease space — and cumulative net absorption of 600,000 square feet year-to-date. The market has demonstrated little change in major market indicators …

January 8, 2018District of Columbia, Market Reports, Office, Southeast, Southeast Market Reports

Rent Growth, Leasing Activity to Remain Robust in D.C.’s Apartment Market

There are many things to be optimistic about in metropolitan Washington, D.C.’s multifamily market. Here are some facts to consider: — The D.C. metro multifamily vacancy averages 3.4 percent compared to the national average of 4.5 percent. — The D.C. region has seen $3.174 billion in multifamily sales activity year-to-date with an average cap rate of 5.2 percent. — Private investors are leading multifamily sales activity in the D.C. metro region and responsible for 64 percent of …

February 13, 2017District of Columbia, Market Reports, Multifamily, Southeast, Southeast Market Reports

In the Nation’s Capital, Retail Always Follows Where New Residential Rises

The building height restriction — enacted in Washington, D.C. to preserve picturesque views of the United States Capitol Building and the Washington Monument — helps provide clear and exceedingly stunning views of the multitude of construction cranes that currently dot the vertical landscape of the District of Columbia. The majority of these yellow-steeled economic generators are being used to develop new residential and mixed-use projects, ranging from the NoMa district to the southeast …

February 6, 2017District of Columbia, Industrial, Market Reports, Southeast, Southeast Market Reports

Demand is Outpacing Supply in Metropolitan D.C.’s Industrial Market

The Washington, D.C., metropolitan industrial market, spreading from Frederick County, Maryland to the north, Prince William County, Virginia to the south and as far west as Loudoun County, Virginia is ideally situated between I-95 and I-81 — major transportation corridors that allow shipments to easily reach much of the country. The industrial market has improved more quickly than other sectors and fairly dramatically to the point where much of the region can be described as land-constrained …

January 30, 2017District of Columbia, Industrial, Market Reports, Southeast, Southeast Market Reports

D.C. Multifamily Market Absorbing Massive Amount of New Supply

Over the last year, metropolitan Washington, D.C.’s multifamily market has seen staggering amounts of new construction deliver, with net absorption levels that have surpassed all expectations. This is likely a result of similarly unexpected rates of job growth in the area and the remarkable resiliency of the metro D.C. economy as a whole. Among the major metropolitan markets around the country, metro D.C. — with the sense of permanence lent by the presence of the federal government — …

February 29, 2016District of Columbia, Market Reports, Multifamily, Southeast, Southeast Market Reports

Leasing Demand Supports D.C. Industrial Market’s Measured New Construction

New industrial demand in the Washington, D.C., metropolitan region has come not only from its strong service economy, but also a rapidly growing consumer goods supply chain, e-commerce distribution seeking speed of delivery, data centers and even government contractors. Both occupiers and investors seek modern, state-of-the-art building design and features. The Washington metro industrial market (185 million square feet inclusive of flex space) was well into the single digits with a sub-9 …

February 22, 2016District of Columbia, Industrial, Market Reports, Southeast, Southeast Market Reports