Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Regions Northern Virginia JLL reports $1.8 billion in office market investment in D.C. area in first quarter

JLL reports $1.8 billion in office market investment in D.C. area in first quarter

Published April 2, 2015 by Paula C. Squires

Investment sales volume in the greater Washington, D.C., office market totaled $1.8 billion in the first quarter of 2015, helping boost average office building sales prices across the area above $500 per square foot, according to JLL's first-quarter market reports.

Core transactions in the District of Columbia represented more than three-quarters of the transaction volume, well above the historic quarterly average of 53.5 percent. JLL said that the transactions were primarily the result of foreign investment, which accounted for $1.3 billion in the first quarter, a record high.

The region also has seen three office transactions achieve the market's highest per-square-foot cost in the last 12 months. In addition the cost per square foot for trophy/Class A properties has reached an all-time high, averaging $818 per square foot, according to the report.

“The trailing 12 month appreciation in asset values for downtown trophy and Class A office buildings is 20.3 percent, more than double its historical average of 8.7 percent,” JLL’s Mid-Atlantic Research Director Scott Homa said in a statement.  “Overwhelming demand, low interest rates and availability of capital will continue to drive pricing for core assets located in metro D.C.”

The Washington region’s economy registered employment gains of 46,300 jobs year-over-year in the month ending January 2015, well above the long-term average growth of about 38,000 jobs, according to the report. Washington, D.C.’s primary office-occupying sector — professional and business services — registered 12-month job growth of 10,400 positions, the strongest rate in nearly two years.

Leasing activity in metro D.C. was almost exclusively focused on buildings within one-half mile of an existing or planned Metro station, with 92.3 percent of overall leasing volume concentrated in these transit-accessible locations.

“We’ve seen tenants across virtually all segments of the market gravitate to walkable, amenity-rich and transit-friendly locations,” added Homa. “Employers are recognizing that to tap into today’s highly educated millennial workforce in Washington, Metro access is an absolute requirement. Adding walkable amenities creates a dynamic environment in which employees feel more connected to the workplace, and these elements are pivotal in recruitment and employee retention.”

 

Related Stories

Virginia Business logo

JLL says Northern Virginia is one of world’s most important data-center markets

Three flex-industrial buildings in Dulles hit the market

Virginia Business logo

Loudoun announces major mixed-use development along Silver Line

Rivana at Innovation Station will include apartments, office, retail, hotel

Trending

13th annual Best Places to Work

Making strides

It’s back!

After the crisis

Fort Monroe development moving forward

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

13th annual Best Places to Work

Making strides

It’s back!

After the crisis

Fort Monroe development moving forward

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk