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Skyline Report: DC's Trophy Market Supply Remaking Fundamentals

JLL reports that It found that trophy vacancy has increased from 8.4% to 10.3% over the first half of 2017 and that occupancy gains over the past year have declined 71%.

By Erika Morphy | erikamorphy | Updated on July 24, 2017

DC’s K street

WASHINGTON, DC–The local trophy market can expect to see rising vacancy as new supply delivers, demand that is below historical norms and net effective rents that will remain flat for the time being and then drop down the road, according to JLL’s latest Skyline report for the trophy market.

It found that trophy vacancy has increased from 8.4% to 10.3% over the first half of 2017 and that the market has recorded 122,000 square feet of occupancy gains over the past year, compared to the historical average of 420,000 square feet of gains annually, a 71% average annual decline

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