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NGKF Benchmarks: Positive Absorption for DC Office Ahead

WASHINGTON, DC--Newmark Grubb Knight Frank's Greg Leisch and Sandy Paul released their Benchmarks report for the Washington DC area. We'll be looking at their findings in a series of articles.

By Erika Morphy | erikamorphy | Updated on November 18, 2016

Greg Leisch presenting at Benchmarks Greg Leisch presenting at Benchmarks

WASHINGTON, DC–Good news Washington DC! Area job growth has reached a 12-year high. The bad news is, the office market remains tepid. But more good news! Due to record absorption, it appears the DC area’s apartment vacancy rate remains healthy despite the massive building of the last few years. But unfortunately … rent growth is anemic in many submarkets.

Good news! Investment sales continue to be robust in large part thanks to foreign investment. Bad news: Cap rate compression appears to be over for this cycle.

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