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2 Bethesda Metro Center, Suite 860Bethesda, MD 20814
Phone +1 202 739-0368
Thanks to 650,000 SF of absorption in Q2 2017 – NoVA’s largest quarterly figure in over five years – the market’s vacancy rate dipped to 20.8%. That is the lowest vacancy rate since the third quarter of 2014.
Movement across the downtown Washington, DC office market picked up in the second quarter of 2017 after a sluggish start to the year. Net absorption climbed to 215,354 square feet (sf), bringing the year-to-date 2017 total to 258,710 sf.
The Suburban Maryland market registered 211,728 square feet (sf) of negative absorption in the second quarter of 2017. That represents a dramatic downward shift since the second quarter of 2016, which registered a 67,205 sf of positive absorption.
Landmark acquisitions and strategic divestments continue to shape the data center market landscape through 2017. Additionally, organic growth continues to drive new development. Sale-leaseback transactions provide funding to operators to allocate toward current operations, expansions, and acquisitions.
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