District of Columbia Market Report Q2 2019
The District of Columbia’s (DC) office market has remained active in 2019 behind strong construction activity and large tenant relocations. Net absorption was 652,852 SF in Q2 however, new construction deliveries caused vacancy to increase by 90 basis points (bps) to 13.1%. Through mid-2019, over 2.1 million SF of new office space delivered, adding over 2.0 million SF of net-new space to the market. Headlining the largest leases in Q2 were three federal renewals: Securities and Exchange Commission at 100 F Street, Department of State at 600 19th Street, and Smithsonian Institute at 750 9th St.