WASHINGTON — The Silver Line is bringing some-more of a D.C. region’s bureau submarkets into a Metro-accessible category, assisting a immeasurable infancy of new informal bureau buildings that came online final year fit a definition.
In a 2017 Commercial Indicators Report, the Metropolitan Washington Council of Governments reports that of a 4.8 million block feet of new bureau space that non-stop in 2017, 83 percent is located within a half-mile of a Metrorail station, a many given 2014.
Overall blurb construction projects nearby Metrorail stations also augmenting final year. Northern Virginia accounted for some-more than half of all new blurb genuine estate construction final year, totaling 7.9 million block feet.
Suburban Maryland contributed 2.5 million block feet of new blurb genuine estate construction final year. The District accounted for 2.3 million block feet, according to a report.
Of a new growth in a segment final year, bureau space grew a most, augmenting by 50 percent. Other forms of blurb spaces — including industrial, health care, liberality and sell — all decreased.
Five of a 10 largest blurb construction projects by block feet were bureau buildings.
The informal bureau cavity rate was 14.2 percent during a finish of 2017, a slight decrease from 2016.
“The boost in new bureau construction and a slight rebate in empty bureau space are certain signs for a civil Washington economy,” pronounced COG Regional Planner John Kent.
“Office buildings typically beget some-more practice per block feet than other land uses. Adding bureau space means internal companies are expanding or firms are locating to a region.”
Overall blurb construction in a civil D.C. segment declined by 7 percent in 2017, according to a legislature report.
The segment combined 144 new blurb buildings in 2017, totaling 12.7 million block feet, down from 160 new buildings in 2016 and a decrease of roughly 1 million block feet.
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