DC Leasing Rates Are Among Top Five in the World

WASHINGTON, DC-Taking on office space here has become increasingly hard on the pocketbook, according to Debenham Tie Leung and the Staubach Co. The pair just released their eighth annual Global Office Occupancy Costs Survey, which covers 113 business districts in 44 countries.

According to the report, Washington, DC made a sizable jump in occupancy costs–24.8% per workstation from the previous year–leaving it in fourth place on the 2005 list of major metropolitan areas in the world with the most expensive office rates. Rankings are based on total occupancy costs per workstation.

The increase moved the District up from number nine on the list in 2004. According to Delta Associates’ Year-End 2004 Office Market Report, the average effective rent among class A office properties in the District for 2004 was $41.15.