Monday, February 06, 2012

Morning Real Estate Review

Pennsylvania Ave. office building sells to Paramount Group for $750 p.s.f. (Globe St.) The $155m purchase sets a high water mark for the purchase of DC office property.

Landlords chase leases of big law firms to fill new projects (Washington Business Journal) With large projects under construction and in the planning stages, developers are eager to snare the lease of some of DC's gargantuan law firms to fill their unleased buildings.

St. Elizabeths plan calls for more federal spending (Capitol Business blog) With the DHS project more than $500m over budget, Feds add to spending on roads and infrastructure.

Office building construction hit 50 year low in 2011 (WSJ) The amount of office building built in 2011 was lower across the nation than at any time since 1960, though DC bucked the trend.



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