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
Duke Realty to Build $1B Office Campus for Defense Dept. in Suburban D.C.
Oct. 01, 2008
The U.S. Department of the Army, acting under the direction of the U.S. Department of Defense, has decided to make a new home at the 350-acre Mark Center in Alexandria, Va., and Duke Realty Corp. is going to provide the land and the development services for the 1.7 million-square-foot office compound. Construction of the approximately $1 billion project will allow for the unification of a group of 6,400 predominantly Army personnel from various leased office buildings in Northern Virginia at a single location.
portals $212M Bridge Financing in Place for D.C. Office
Oct. 01, 2008
Despite being slowed down by the economy's downward spiral and the debilitating credit crunch, Washington, D.C.'s office market has remained relatively strong. Still, securing a substantial financing deal in the midst of the Wall Street crisis may seem like a bit of a pipedream. A newly announced transaction, however, has disproved that notion.
Forest City Secures $250M in Financing for 2.5M SF Mixed-Use Project in D.C.
Sept. 24, 2008
Flying in the face of the debilitating credit crunch, Forest City Enterprises Inc. has managed to close on a $250 million construction financing deal for Waterfront Station, a 2.5 million-square-foot mixed-use project underway in the blossoming southwest area of Washington, D.C.
Berkshire Income to Sell Suburban D.C. Apartments in $53M Deal
Sept. 19, 2008
Taking another step in its mission of creating value through property management and repositioning, Berkshire Income Realty Inc. has entered into an agreement to sell Westchester West Apartments in Silver Spring, Md., in a transaction valued at approximately $53.4 million.
Carmel Vienna Carmel Fund Shells Out $66M in Cash for Suburban D.C. M-F
Sept. 16, 2008
Carmel Partners Inc., acting through its Carmel Partners Investment Fund III L.P., has added a 230-unit multi-family property in Fairfax, Va., to its portfolio by taking Avera Station off the hands of Atlanta-based Beazer Homes in a $65.8 million transaction.