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In Truth, DC's Effective Rents Are Flat

“You can still redevelop a building in DC and be successful -- it is just you have to have the right strategy.”

By Erika Morphy | Updated on November 10, 2017

Carl Caputo

WASHINGTON, DC–Ground-up development has captured 3 times more leasing activity than redevelopments — 4.5 million square feet versus 1.5 million square feet, according to a new data point by JLL. Indeed, only 33% of recently delivered or under construction ground-up projects remain available versus 56% of space at redevelopments.

However that doesn’t mean these buildings — or for that matter redeveloped existing buildings — are making much headway with rental rates. In this strong tenant market, with heavy concessions the norm, the effective rental rate is flat, Carl Caputo, JLL Senior Research Analyst tells GlobeSt.com.

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