The D.C. office market experienced unusually slow leasing activity last quarter, but new market reports indicate a declining pipeline and lease expirations may spur activity in the near future.
D.C.’s office market surpassed 20% vacancy for the first time ever in the third quarter, rising 40 basis points from the previous quarter, according to CBRE’s quarterly market report.
The “dismal” quarter, as the brokerage described it in the report, was punctuated by 351K SF of negative net absorption with few large private sector leases.
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