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Office sales volume slowed compared to Q1’s breakneck pace, but remains on pace to exceed 2017’s activity/1037/metro-dc-7-16-18-office-sales-volume-slowed<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-sitting-business-abstract-window-view.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1037/metro-dc-7-16-18-office-sales-volume-slowedOffice sales volume slowed compared to Q1’s breakneck pace, but remains on pace to exceed 2017’s activityAfter an active Q1 in which more than $2 billion of office assets traded hands, office investment sales across Metro DC resumed a more typical pace in Q2, registering $1.4 billion with Washington, DC seeing eight trades and Northern Virginia seeing 18 trades.
Clear heights distinguish the industrial landscapes of Baltimore and Metro DC/1023/metro-dc-7-9-18-clear-heights-distinguish-industrial-landscape<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/industrial-empty-warehouse-racks.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1023/metro-dc-7-9-18-clear-heights-distinguish-industrial-landscapeClear heights distinguish the industrial landscapes of Baltimore and Metro DCSince 2010, the Mid-Atlantic industrial market has averaged 2.6 million s.f. of positive absorption annually; Baltimore has accounted for 1.7 million s.f. of that total, capturing more than 63% of the region’s occupancy growth this cycle.
Net effective rents are down across Northern Virginia versus a decade ago as concessions reach new highs/1006/northern-virginia-6-25-18-net-effective-rents-are-down<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-contemporary-exterior-skyscraper-design-concept.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1006/northern-virginia-6-25-18-net-effective-rents-are-downNet effective rents are down across Northern Virginia versus a decade ago as concessions reach new highsNet effective rents have declined across every major submarket in Northern Virginia over the last decade as strike rents have seen flat to modest growth, but concessions have reached record highs.
Fueled by limited supply, home pricing in Metro DC hits new heights/989/metro-dc-6-18-18-home-pricing-new-hights<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/residential-interior-modern-home.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/989/metro-dc-6-18-18-home-pricing-new-hightsFueled by limited supply, home pricing in Metro DC hits new heightsStrong population growth and modest regional economic gains, coupled with declining supply, have placed significant upward pressure on Metro DC home prices the past decade.
Cybersecurity is evolving into a key growth trigger regionally /981/metro-dc-6-11-18-cybersecurity-is-evolving<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-devices-meeting.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/981/metro-dc-6-11-18-cybersecurity-is-evolvingCybersecurity is evolving into a key growth trigger regionally While regional growth outside of flexible space has been limited the past few years, one area that has grown tremendously and continues to show significant growth potential is cybersecurity: cybersecurity-related federal contract awards have grown 135% since 2010.
The flexible space sector has grown by 335% since 2010 and is on pace to reach 4 million s.f. by the end of 2018/972/metro-dc-6-4-18-flexible-space-growth<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/woman-people-tech-in-office.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/972/metro-dc-6-4-18-flexible-space-growthThe flexible space sector has grown by 335% since 2010 and is on pace to reach 4 million s.f. by the end of 2018The flexible space market is now the main driver of office occupancy growth across the region, responsible for 42% of gains since the beginning of 2014.