Regions Midatlantic | Washington, DC
Washington, D.C. Experienced Positive Absorption, Cassidy & Pinkard Reports
July 1, 2008

Cassidy & Pinkard Colliers said today that Washington, D.C. metropolitan area office market experienced an overall positive net absorption of 217,900 square feet in the second quarter of 2008. A significant drop from the 978,700 square feet reported in the first quarter.  Vacancy rates increased 60 basis points from 10.1 percent in the first quarter of 2008 to 10.7 percent in the second quarter.  According to Costar, average asking rents in the D.C. metro rose $1.04 over a year-ago to $35.15. The ten-year average for net absorption is 6.03 million square feet.  As of June 30, the D.C. region had absorbed 1.20 million square feet.  In terms of supply, there is over 19 million square feet of office space scheduled to deliver in 2008, 2009 and 2010.  

 
Recent Washington,DC Headlines
Neal Joins GVA Advantis as Chairman
Aug. 20, 2008
GVA Advantis said today that Jeffrey Neal has joined the company as chairman. Most recently, he was the co-founder and principal of the Washington-based real estate development company Monument Realty.
Northern Virginia County Gets First LEED Gold Spec Office
Aug. 18, 2008
Construction has wrapped up for the first of two Class A office buildings that will comprise the 230,000-square-foot Atlantic Corporate Park in Sterling, Va., located about 25 miles from Washington, D.C., in Loudoun County.
Two Former Staubach Execs Join CB Richard Ellis
Aug. 13, 2008
CB Richard Ellis Group Inc. has hired two real estate industry veterans, Michael McShea and Peter Larkin, formerly of The Staubach Co. Both focus on the public sector and have joined the company’s government and public sector solutions group, based in Washington, D.C. The Staubach Co. was recently acquired by Jones Lang LaSalle.
The Yards New Pavilion Heralds $1.7B Mixed-Use Project in D.C.
Aug. 08, 2008
Construction of The Yards, a 5.5 million-square-foot redevelopment endeavor in southeast Washington, D.C., by Forest City Washington, is in the works, and the company has just opened The Yards Pavilion (pictured) to give a peak at what is to come when the first phase of the project delivers late next year. An outdoor marketing gallery, The Yards Pavilion features exhibit panels and kiosks detailing the multi-faceted $1.7 billion project, the first structure of which will debut late next year as the 170-unit Foundry Lofts apartment building.
Eaton Vance Funds Grab Two-Building Suburban D.C. Office Complex for $95M
Aug. 08, 2008
A two-building office property occupied by CareFirst BlueCross BlueShield in Owings Mills, Md., has been sold to two owners.