Monday, January 09, 2012

Morning Real Estate Review

Suburban office space ends 2011 on a bad note (Gazette) With a negative net absorption, higher vacancies mark an uncomfortable year for office developments outside the District.

Good times ahead for multi-family (Multi-Housing News) With low vacancy rates, multi-family properties proved the best investment last year, a trend that is likely to continue this year.

Office vacancies and construction both up (Washington Post) With a few large speculative office projects underway, DC is one of the few expanding suppliers of office space in the nation.


Anonymous said...

Who cares about the office vacancy rate in Frederick County - the interesting story is below that in the Gazette link:

Home Properties breaks ground on Silver Spring apartments

Home Properties of Vienna, Va., announced it has started construction on Eleven55 Ripley, a 379-unit apartment complex in downtown Silver Spring.

Construction of the property’s two buildings, featuring upscale apartments, rowhouses and lofts, is expected to be completed in the third quarter of 2013.

Designed by Washington, D.C., architect Shalom Baranes Associates, the property will feature a 21-story apartment tower, the tallest in Silver Spring. Eleven55 Ripley will sit 800 feet from the Silver Spring Transit Center, a transportation hub under construction that will house the Silver Spring Metrorail station, MARC station and Metrobus platforms.

Developers are lining up to build apartments in Silver Spring, with about 1,000 units under construction at the end of 2011, according to Delta Associates. But demand remains very strong, with the area showing a vacancy rate of less than 4 percent.

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