Washington Business Journal - Big and empty: D.C.'s large offices disproportionately hit by slowdown - Cushman & Wakefield

Washington Business Journal - Big and empty: D.C.'s large offices disproportionately hit by slowdown

Washington Business Journal - Big and empty: D.C.'s large offices disproportionately hit by slowdown

Bigger, it seems, isn't better for D.C.'s multibillion-dollar commercial real estate industry anymore.

The District's stock of large buildings, with floor plates of more than 50,000 square feet, have been disproportionately hit by a leasing slump that has caused vacancy rates to reach near-historic levels across the city, according to new research from Cushman & Wakefield Inc. Vacant space in those buildings now account for a quarter of the empty office space in the Central Business District and East End, up from 16.8 percent a year ago.

There are now 14 buildings with 100,000 square feet or more of vacant contiguous space, up from nine last year and six in 2011, said Paula Munger, managing director of research for Cushman's mid-Atlantic region.

WBJ - Big and Empty

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Marc Nakleh

Marc Nakleh

Executive Director

New York, NY

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