The competition between D.C. office landlords vying for tenants has become more aggressive than ever, with record-high vacancy rates forcing owners to offer increasingly generous deals to those willing to sign leases.
Given the continued delivery of available space, the lack of new tenants entering the market and the possibility of existing tenants reducing their footprints, market experts don’t foresee any improvement in the vacancy rate in the coming years. This means D.C. will remain a tenant-favorable market for the foreseeable future.
Several top brokers, landlords and tenants, speaking last week on Bisnow’s Greater D.C. Office Outlook digital summit, discussed how the vacancy rate is shaping lease negotiations and tenant decisions.
Click here to read the rest of the article written by Jon Banister over at Bis Now
