By Sanyu Kyeyune
Real estate professionals converged on the nation’s capital to discuss headlining trends in the Washington, D.C., metro area. In an exclusive podcast interview, Transwestern Managing Director of Research Elizabeth Norton and Delta Associates President William Rich sat down with Commercial Property Executive to outline the forces that are most likely to shape the region’s commercial real estate market in 2018.
According to Norton and Rich, the following six trends have been impacting the region:
- The office amenities war is raging among second-generation Class A properties.
- The U.S. housing market is finally picking up speed.
- Cap rates continue their downward trend.
- The uptick in apartment absorption should persist, despite more younger people leaving the city.
- More large condominium projects will rise in the metro this year, potentially reversing the trend of increased boutique condo construction.
- Rents will spike within the flex/industrial real estate sector.