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Why One Analyst Thinks Northern Virginia Is Poised For Growth

“We just are not seeing robust job growth that can support the DC office market right now.”

By Erika Morphy | erikamorphy | Updated on September 19, 2017

The Capitol

WASHINGTON, DC–There is 1.1 million square feet of trophy office construction in the District’s pipeline that will deliver by the end of 2017. That does not bode well for DC’s vacancy rate but should offer some upside for Northern Virginia, especially should defense-related federal agencies get the funding expected in this current budget round, according to Doug Ressler, director of Business Intelligence at Yardi-Matrix.

All of this — from a a dramatic slowdown in both leasing and building in the District to signs of economic improvement in Northern Virginia — will occur in the next 12 months, he tells GlobeSt.com.

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