WASHINGTON, DC—The link between job growth and investment sales in commercial real estate is fairly straightforward: they both tend to rise in tandem. Not so, however, in the District these days where fundamentals appear to be temporarily turned upside down.
This year JLL is predicting that investment sales in the District could go as high as $22.3 billion, compared to last year's $18 billion. Yet job growth in the city is less-than-robust with the unemployment rate ticking down to 7.4% in July from 7.5% the previous month.
There are reasons for that disconnect including DC's vaunted "safe haven" status for institutional investors. However there are signs that local employment is catching up to support this story line about the DC market.
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