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The Washington D.C., Northern Virginia Market Driven by Government
The real estate market in the Washington D.C. area is stronger than ever
due in part to a strong economy and new job holders. Commercial rents are up and vacancies are down. Tenants are signing on for more space as employers need more room for their new hires.
Speculating that the boom will continue, developers persist on building
rapidly. The largest projects are campuses for federal agencies. Federal
spending continues to drive much of the growth. Prices are being bid up
in real estate negotiations because there is much more money in the area
than there is property.
The break-neck pace of growth in the Washington D.C. area is likely to
slow somewhat as overbuilding is likely to happen. |
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