CBRE’s Q3 MarketView Report presents several interesting takeaways for the DC market, perhaps none more so than the increase in foreign investment in the District.
DC comes in at No. 2 behind Manhattan among major cities for foreign investment in real estate, a significant jump from last year’s No. 5 ranking. Foreign investors continue to be attracted to trophy assets due to lower vacancy rates in comparison to other properties.
Additional highlights from the report include a strong increase in gross leasing activity for Northern Virginia. The region saw 2.6M SF of activity in Q3, 12% higher than the region’s four-year quarterly average. The leasing environment as a whole saw substantial activity from the GSA, as the agency accounted for 46% of deals by leasing 1.2M SF. [CBRE]
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