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Transwestern Has Mixed Office Outlook for DC/Baltimore

WASHINGTON, DC-A year ago Northern Virginia office real estate soared with the fortunes of technology companies. Those fortunes have evaporated, and the District is now sitting on top of the heap, while Maryland continues to pull up third place.

By Marlon Millner | Updated on August 09, 2001

WASHINGTON, DC-Transwestern Commercial Services has produced its first-half review of the Washington and Baltimore metropolitan areas, along with an outlook toward the second half of 2001.

What a difference a year makes.

This time last year, Northern Virginia, with submarkets like Tysons Corner, Reston and Dulles, led the region in net absorption, square foot prices and new construction. But that was before dot-coms got dot canned. Along with the demise of Internet-specific companies, Internet-related firms all the way down to heavy hitters like telecom-equipment makers and optical-networking firms have backed out of leases or abandoned new construction all together.

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