WASHINGTON, DC–Recent expansions of several technology companies, including Optoro, 2U, FiscalNote, WeddingWire and Cvent, has helped drive a large share of the 1.9 million square feet of positive net absorption that has been recorded across the Metro DC region over the past 12 months, JLL notes.
This is good news for CRE: Overall job growth in the DC region remains near cyclical highs, but with employment levels essentially flat within the federal government, legal services and financial services sectors, technology-oriented job growth has accounted for 86.9% of overall office-occupying job creation over the past 12 months.
New Building at Box Hill
ABINGDON, MD—Construction began last week on a 26,000-square foot office building at Box Hill Corporate Center with the recent signing of Kaiser Foundation Health Plan of the Mid-Atlantic State's 20,816 square feet lease. That building is located at 3400 Box Hill Corporate Dr.
WASHINGTON, DC–Recent expansions of several technology companies, including Optoro, 2U, FiscalNote, WeddingWire and Cvent, has helped drive a large share of the 1.9 million square feet of positive net absorption that has been recorded across the Metro DC region over the past 12 months, JLL notes.
This is good news for CRE: Overall job growth in the DC region remains near cyclical highs, but with employment levels essentially flat within the federal government, legal services and financial services sectors, technology-oriented job growth has accounted for 86.9% of overall office-occupying job creation over the past 12 months.
New Building at Box Hill
ABINGDON, MD—Construction began last week on a 26,000-square foot office building at Box Hill Corporate Center with the recent signing of Kaiser Foundation Health Plan of the Mid-Atlantic State's 20,816 square feet lease. That building is located at 3400 Box Hill Corporate Dr.
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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.
