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December 22, 2020

The 9 Largest New Office Leases Signed In The D.C. Area This Year

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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

The 9 Largest New Office Leases Signed In The D.C. Area This Year

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…

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Rockville Office Building With Life Sciences Tenants Sells For $33M

Rockville Office Building With Life Sciences Tenants Sells For $33M  

The continued strength of Montgomery County's life sciences market has attracted a Florida-based investor.  Morning Calm Management paid $32.7M to acquire the Twinbrook Office Center, a Rockville office building with biotech and life sciences companies comprising nearly half of…

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How The New Stimulus Bill Will Impact Real Estate

 

Congressional leaders have completed negotiations on a large stimulus bill that will provide $900B in coronavirus pandemic relief, along with a $1.4 trillion omnibus spending package.

The relief measure, expected to be passed by the House and then the Senate as early as Monday, includes a number of provisions that will help various sectors of the real estate business — though it is missing key programs industry groups lobbied for.

Read the full story here.

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The 5 Biggest CRE Flops In 2020

It will come as no surprise to the regular Bisnow reader that 2020 was a time of worry, woe and wishful thinking for the vast majority of businesses related to commercial real estate.

But for certain sectors of the industry, it was a particularly fraught year to launch new products and projects, and all five of our biggest flops this year fell prey to withering market conditions or a tense political climate. Check out our list of this year’s major stumbles.

Read the full story here.

 
 
 
       
 
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