Tech Filling Up NoVa Offices

Tech is a hot sector (maybe the hottest) for office leasing in the DC region, says CBRE’s DC Tech Pulse report released this week. Tech companies leased over 4.1M SF of office space in the first three quarters of this year, making up 27% of total volume in the region. CBRE first VP Dave Ritchey (and head of the firm’s tech practice), celebrating a recent birthday, says it’s significant that one sector made up such a large percentage.

And 2015 looks even better with companies like Blackboard, Opower and WeddingWire already hinting that they could go for bigger and better HQs. The suburbs saw the most activity with NoVa accounting for 70% (3M SF) of total tech leases and Maryland 19%. DC is also a player with 50 leases (451k SF) signed, so smaller transactions but lots of volume. That kind of leasing activity and with dozens of early-stage companies housed in incubators and coworking spaces, “downtown is in the early innings of a growing tech ecosystem,” Dave says.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Buyer Of BXP's Sumner Square Revealed: The D.C. Deal Sheet

Meridian Group-Led Venture Pays $67M For 5 Virginia Office Buildings

Developer Sues JLL For $12M, Claiming It Fudged Numbers On D.C. Project

Jemals Sell Georgetown Building To Developer Planning Conversion

D.C.'s Office Market Is Getting A Makeover

Judge Rules FBI Can't Scrap Maryland Headquarters Plan

CGI Merchant Had A-Rod's Backing And A $650M Fund. Then It Bought Trump's D.C. Hotel And It All Fell Apart

Brookfield Offloads 3-Building Silver Spring Office Complex

Student Housing Investor Buys Foggy Bottom Residences: The D.C. Deal Sheet

'We Messed Up With Rent Control': CRE Execs On MoCo's Multifamily Hurdle

New National Geographic Museum Food Hall By Winmar Blends Design With Elevated Dining

Commanders Pick Clark Construction, 2 Others To Build D.C. NFL Stadium