|
The D.C. area's office market slowed down this year during the coronavirus pandemic, but it didn't come to a full stop.
While many companies delayed decisions or renewed existing leases, a significant number of tenants signed new deals this year to relocate their offices or expand their footprint.
Using research from CBRE and Newmark, Bisnow identified the nine largest new office leases signed in the D.C. area this year. The tenants included government agencies, technology companies, automakers, law firms, nonprofits and banks.
Many of the deals were in the works before the pandemic and were able to close despite the challenges the coronavirus created for the market. In one case, a tenant pivoted to put its entire space on the sublease market within six months of signing the deal.
Boston Properties dominated the list by landing three new tenants of over 100K SF, including the year's largest deal at Reston Town Center.
1. Microsoft
Tenant: Microsoft
Address: 11955 Freedom Drive
Square Feet: 400K SF
The largest D.C.-area lease this year was a new expansion that helped bolster the Northern Virginia office market just emerging from the depths of the pandemic. Boston Properties in May signed…
Read the full story here.
|
