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DC emerging market office occupancy gains have doubled those of core market gains since 2005

  • ​Since 2005, DC emerging markets have posted 7.4 million s.f.of office occupancy gains, double the gains (3.7 million s.f.) of the core market.
  • Occupancy gains among emerging markets are projected to continue as more than 3 million s.f.of additional occupancy will be absorbed by 2021, 40% of which will derive from new deliveries.
  • Since 2007, Southwest, the Ballpark and NoMahave captured 70% of long-term federal leases signed larger than 100,000 s.f., which will continue to grow the federal governments’ presence in these markets, accounting for close to 2 million s.f.of future occupancy gains.
  • Meanwhile, emerging industries such as coworking and tech are also helping drive demand, as 25% of all coworking spaces were located within these new markets prior to 2017. This share will only increase, as coworking will account for over 180,000 s.f.of occupancy gains between 2017 and 2018 in emerging markets.​

Source: JLL Research




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