DC Jumps to No. 2 for Foreign Investment
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]