WASHINGTON, DC-Yes, the fiscal cliff looms. Yes, DC's commercial real estate market is too heavily dependent on the federal government for comfort. Yes, every now and then we must suffer through the indignity of calls to move the nation's Capitol to another city like Louisville. Still, though, as veterans of this city's CRE industry can tell you, business continues to get done.
Exhibit A is a recent report by Targeted News, which reported on a number of federal contracts secured by companies in Virginia shortly before the Christmas holiday.
Among these was a $59.58 million contract awarded to Ballston Investor Group I from the General Services Administration's Public Buildings Service "for the lease of up to 310,829 square feet of office and related space."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
