Chart by JLL
ARLINGTON, VA–Since 2014, associations and non-profits have been moving from their strongholds in the the District and elsewhere in Northern Virginia, according to a new research note by JLL — and the recipient of most of this activity is Crystal City.
The reasons is a growing rent discount between Class A space in Crystal City and Class B space in Washington DC. For these cost-conscious tenants Crystal City's $39.39 per square foot FS vs. Washington, DC's $51.48 per square foot FS will continue this trend, JLL predicts.
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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.
