WASHINGTON, DC–Foreign investors have traditionally liked Washington DC's fundamentals and thus have been regular buyers of its trophy office product. Not so for 2017 however: Year to date, 81% of Class B investment sales volume has been driven by foreign buyers YTD, according to a JLL data point.
Indeed, investors of all types have noticed the B market's performance, JLL said. Combined 2016-2017 Class B asset sales have accounted for 50% of overall downtown activity, up from less than 30% in 2010.
Not surprisingly, competition for B product is becoming increasingly fierce.
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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.
