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Cushman & Wakefield provides commercial real estate services to help clients turn fixed assets into dynamic assets.
Office MarketBeat is a brief summary of the Office sector in key cities, providing comment on recent trends as well as market data and analysis of the impact on commercial real estate
Suburban Maryland ended the first quarter of 2017 with 75,294 square feet (SF) of positive absorption. Absorption did decrease by 383,072 SF from the fourth quarter of 2016 to the first quarter of 2017. Year-over-year overall vacancy in Suburban Maryland declined by 100 basis points (BP) closing the first quarter 2017 at 19.6%; the market’s overall vacancy rate hasn’t been this low since the fourth quarter of 2013 when vacancy was 18.3%.
The Downtown Washington, DC office market hit a lull during the first quarter of 2017. Net absorption totaled 43,356 square feet (sf) and vacancy ticked up 50 basis points to 12.3% year-over year, due to a slowdown in leasing activity and large scale moves occurred.
Office MarketBeat is a brief summary of the Office sector in key cities, providing comment on recent trends as well as market data and analysis of the impact on commercial real estate.