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.”
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,” Read the full story here. |