With over 382,595,980 square feet of competing office space, the Washington, DC metropolitan area is one of the largest markets in the United States.  Add the fact that it includes most of the federal government - the world’s largest consumer - it will continue to be the best performing market as well.  The region encompassing portions of Maryland and Northern Virginia along with the city limits of the District. 

Our Washington, DC office calculates its market statistics and demographic information predominately by submarkets.  The District is further divided into specific clusters, such as Capitol Hill, CBD (Central Business District), Georgetown, Uptown, NW, SW, SE, West End, and East End. Each cluster represents a specific community with its own unique characteristics, with average rental rates that can sharply vary within each one.

The main submarkets of the Northern Virginia market include the cities of Alexandria, Falls Church, and Fairfax, along with Arlington and Fairfax Counties.  The breakdown continues into multiple clusters depending on the location within each of these counties, and too numerous to mention. Benefiting from its position as a suburb of Washington, DC, Northern Virginia has been thriving, in part, due to the government's increase in demand for space for its’ growing federal agencies. Other factors include the desire for government contractors to locate near the agencies, and other businesses' needs for more options and lower rental rates than those available in the District.

Most of the activity in the Maryland suburbs comes from Montgomery County, and intermittently from Prince Georges and Howard Counties.  The main clusters include the I-270 corridor, Rockville/Gaithersburg, Chevy Chase/Bethesda, Greenbelt, and Silver Spring. Slower moving than the previous two, the office market in Maryland reacts less vigorously to trends and changes, affecting its vacancy and absorption activity on a more measured scale.  An example of that planned growth comes from the incubation of the bio-tech community, among several other industries, which has slowly gained momentum within Maryland, partly as a result of Montgomery County’s economic development efforts to lure this growing industry to the area.  Worth noting is the conspicuous halted expansion of both the National Institutes of Health, and the Federal Drug Administration.  Though their existing presence within the county is considerable, their lack of current growth has had a negative impact on related demand.  A few speculative buildings are expected in the near future, but speculative growth is not as imminent as in NOVA, with 1 million square feet under construction in the Dulles Toll Road/Route 28 Corridor alone.  

As a company exclusively representing office space users, CresaPartners is able to serve these ever-growing tenant needs through its three offices in Maryland, DC, and Virginia.   The DC office, led by principals with a combined 60+ years of experience in the real estate industry specific to the DC region, has a proven track record of providing long-term business planning solutions which ultimately saves their clients’ money.   

CresaPartners is a leading international corporate real estate advisory firm that specializes in tenant representation. We provide integrated services—including strategic planning, project management, portfolio management, and capital market expertise—through more than 125 offices in 35 countries, including 47 locations in North America. By exclusively representing tenants, we avoid conflicts of interest and ensure accountability. As a result, we have received the distinguished Site Selection/William Dorsey Service Provider Award for the last five years.