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NKF: Millennials Are Leaving DC. Now What?

“We had this massive in-migration of millennials that fueled our hip restaurant scene, and our hip retail scene, and it fueled our booming apartment absorption.”

By Erika Morphy | Updated on November 13, 2017

Greg Leisch at BenchMarks 2017

WASHINGTON, DC–Newmark Knight Frank held its 2017 BenchMarks event last week. BenchMarks is an annual report authored by Greg Leisch, NKF’s senior managing director of Market Research — an event that the Washington DC area’s CRE community looks forward to each year. GlobeSt.com will be looking at the findings over the next few days.

One finding is a bit sobering for the District: Millennials are starting to leave the city after flocking to it for years. This out-migration, Leisch tells GlobeSt.com, is increasing demand for office space and decreasing demand for apartments.

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