INDUSTRY NEWS
Nonresidential Construction Recap: March 2015
Weather-Induced 
Choppy Road Ahead 

Expectations & Market 
Realities in Real Estate 2015
Scaling New Heights

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WASHINGTON
Available Now: 
Richmond Highway Corridor 
Land-Use Impact Study

ARTICLES
Vacancy Rate Drops

McEnearney Springs Forward

Welcome Debra Arnett

Property Assessment Trends
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Buyer Representation
April 2015
Washington Vacancy Rate Drops to 14%
The Washington Office market ended the fourth quarter of 2014 with a vacancy rate of 14.5%. The vacancy rate was down over the previous quarter with net absorption totaling positive 2,130,309 sq ft in the fourth quarter. Vacant sublease space decreased, ending the quarter at 3,405,032 sq ft. Rental rates ended at $34.46, representing a decrease over the previous quarter. A total of seven buildings delivered to the market totaling 953,356 sq ft, with 6,891,234 sq ft still under construction at the end of the quarter.

McEnearney Springs Forward

McEnearney Commercial's recently announced plans to expand brokerage operations throughout the Washington Metro area are gaining momentum!  

 

"We are pleased to find that there is interest in an organization like ours," said Ed Cave, Director of Business Development. "Our twenty-eight year track record shows our experience and stability. Combine that with the energy of a start-up and you have a growth dynamic that is very appealing."

 

In January, the firm announced a two year growth plan to enhance its services and brokerage operations throughout the Metro Washington area. "Our intention is to occupy the space between large national firms and those small operations that currently exist," said Dave Hawkins, Managing Broker. "We believe our ability to provide outstanding results in an atmosphere that is more personal for our brokers and clients will place us in a unique position in the marketplace."

 

As part of its expanding presence, McEnearney Commercial is seeking experienced brokers who share this vision.

Welcome Debra Arnett

McEnearney Commercial is pleased to welcome 

Debra Arnett to the team

 

Debra joins McEnearney Commercial as a local small business owner and a thirty-two year veteran of a Fortune 500 Corporation.  During her career, Debra managed $100M+ high-profile office, warehouse, and airport projects including project justification, execution, control, and close-out.  Her commercial real estate specialties include stakeholder management, due diligence assessment, financial analytics, negotiations, and contracts. 

Real Property Assessment Trends in the Washington Region, 2005-2014 

by

David E. Versel, AICP

 

Local governments in the Washington region are highly dependent on revenue from real property taxes. The national economic recession from 2008 to 2010 led to declines in the property assessments of every major jurisdiction in the region, and the assessments have yet to recover to pre-recession levels in many jurisdictions. Nonresidential property assessments have increased since 2009 in the region's central jurisdictions, driven mainly by increased valuation from multi-family residential development. However, many suburban areas have struggled to rebuild their commercial assessment bases in the past five years. This trend is placing additional burdens on residential property owners in these jurisdictions and making it more difficult for local governments to maintain their public facilities and services.

 

Source: Real Property Assessment Trends