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October 17, 2024

More Companies Signing D.C.-Area Office Leases, But Owners Still Feeling The Pain

Signs of life are sprouting up in the D.C. metro office market. Leasing volume is on the rise, with more large tenants wading into the market for the first time in years and companies slowly getting comfortable making longer-term decisions. 

But even with the glimmer of momentum, landlords are still feeling the pain of the office dynamic that was flipped upside down 4.5 years ago. In a market where tenants have their pick of the crop amid ever-increasing vacancy, landlords are feeling pressured to outlay more, often unable to say “no.”

More Companies Signing D.C.-Area Office Leases, But Owners Still Feeling The Pain

Panelists at Bisnow’s DMV Office Market Update Tuesday said that while they are encouraged by the activity, the landlords are having to fight tooth and nail for each lease, giving up more and more in a tenant-friendly market that is posing stiff competition. “We're really excited about leasing activity in general,” 

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Brandywine Realty Trust CEO: 'We Got To Get Out' Of D.C. Market

Brandywine Realty Trust is looking for the exits on its 4.5M SF D.C.-area office portfolio.

The Philadelphia-based REIT plans to offload its properties, except for some land, in the area over the next few years, the Philadelphia Business Journal reported.

Brandywine Realty Trust CEO: 'We Got To Get Out' Of D.C. Market

Brandywine CEO Jerry Sweeney said the market, once Brandywine's biggest, has been bitten by the the federal workforce's stalled return to office, calling the lack of progress a “killer.” “Our capital costs combined with net effective rents just made me conclude we got to get out of the market,” Sweeney said at a…

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Data Center CEO Indicted On Federal Fraud Charges

The head of a Maryland data center firm is facing federal fraud charges after prosecutors say he created a sham company to secure a $10M contract with the Securities and Exchange Commission.

Data Center CEO Indicted On Federal Fraud Charges

A federal grand jury in D.C. returned an indictment Tuesday charging Deepak Jain, founder and CEO of data center provider AiNET, with “major fraud against the United States” and making false statements to the SEC, the Department of Justice announced Wednesday.According to the indictment, AiNET provided data center…

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