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Northern Virginia Stands To Benefit From Congressional Budget

Recent releases from the Department of Defense suggest that cybersecurity and intelligence contracts will be a top priority, translating to contractor growth in the Route 28 South and Toll Road areas, JLL said in a new note.

The Capitol

WASHINGTON, DC–It has been clear that Northern Virginia’s commercial real estate community would benefit from the current regime in Washington, DC, with its focus on defense. A new research note from JLL drills into exactly where the most benefits will accrue.

This month Congress passed the Bipartisan Budget Act of 2018, a continuing resolution that extended funding at the FY 2017 level through March 23rd. The measure also raised spending caps for FY 2018 and 2019, for both defense and non-defense categories. The caps for defense spending saw a boost of $79.9 billion (14.6%) for 2018 and $85.0 billion (15.1%) for 2019, JLL noted.

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Erika Morphy

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.

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