District of Columbia Market Report Q3 2019

The District of Columbia's (DC) office market exhibited stability in the third quarter (Q3) of 2019. Though quarterly occupancy gains were muted, DC's office market has been active in 2019. Net absorption was 22,812 SF in Q3, bringing the year-to-date total to 1,062,203 SF. Occupancy growth has been partly supported by a robust construction pipeline, which has triggered several large-footprint relocations. New construction deliveries are also a contributing factor to DC's rising vacancy, which increased 60 basis points over the last three-months to 13.7%.