{"id":1004751049,"date":"2025-03-20T00:32:03","date_gmt":"2025-03-20T08:32:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004751049"},"modified":"2025-04-07T06:03:34","modified_gmt":"2025-04-07T14:03:34","slug":"step-into-my-office-wait-and-see-for-dc","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/step-into-my-office-wait-and-see-for-dc\/","title":{"rendered":"Step Into My Office: &#8216;Wait and See&#8217; for DC?"},"content":{"rendered":"<iframe allow=\"autoplay *; encrypted-media *; fullscreen *; clipboard-write\" frameborder=\"0\" height=\"175\" style=\"width:100%;overflow:hidden;border-radius:10px;\" sandbox=\"allow-forms allow-popups allow-same-origin allow-scripts allow-storage-access-by-user-activation allow-top-navigation-by-user-activation\" src=\"https:\/\/embed.podcasts.apple.com\/us\/podcast\/step-into-my-office-wait-and-see-for-dc\/id1552202952?i=1000700074193\" ><\/iframe>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Step-Into-My-Office-new-title.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"675\" data-attachment-id=\"1004752533\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/step-into-my-office-wait-and-see-for-dc\/step-into-my-office-new-title\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Step-Into-My-Office-new-title.jpg\" data-orig-size=\"900,675\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Step Into My Office new title\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Step-Into-My-Office-new-title.jpg?w=900\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Step-Into-My-Office-new-title.jpg\" alt=\"\" class=\"wp-image-1004752533\" style=\"width:369px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Step-Into-My-Office-new-title.jpg 900w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Step-Into-My-Office-new-title.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Step-Into-My-Office-new-title.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">In this podcast episode, Bobby Blair and Olivia Bunescu delve into the current fundamentals of DC&#8217;s office market. <em>Image by peshkov\/iStockphoto.com<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Once considered one of the most stable markets due to its reliance on government agencies, Washington, D.C.&#8217;s office market is now facing a period of volatility, with rising vacancy rates and a <a href=\"https:\/\/www.commercialsearch.com\/news\/dc-office-investment-picked-up-steam-in-2024\/\">low development pipeline<\/a>. As investors wait on the sidelines or turn to more flexible solutions, the overall sentiment is to \u201cwait and see,\u201d as the market is navigating this period of redefining itself.<\/p>\n\n\n\n<p>Although <a href=\"https:\/\/www.us.jll.com\/en\/trends-and-insights\/research\/office-market-statistics-trends\/washington-dc\" target=\"_blank\" rel=\"noreferrer noopener\">JLL\u2019s latest report<\/a> showed some signs of improvement in terms of absorption and trophy assets asking rent, the company&#8217;s Vice Chairman, Bobby Blair, believes it might be too early to anticipate recovery.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide\" style=\"background-color:#dddddd;color:#dddddd\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/potential-federal-building-sale-adds-uncertainty-to-cre\/\">Potential Federal Building Sale Adds Uncertainty to Office Sector<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide\" style=\"background-color:#dddddd;color:#dddddd\"\/>\n\n\n\n<p>Blair joins me as we delve into the market\u2019s performance in the past year, what needs to change in the leasing scene and what comes next in a new political climate. Is there space for the private sector and flexible solutions in DC? As the market undergoes challenges due to volatility and tries to recalibrate, the question remains the same: what does it take for it to get back on track?<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Blair-Bobby_colorized_trans-Photoroom_f3638f-e1742309977843.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"960\" data-attachment-id=\"1004751099\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/step-into-my-office-wait-and-see-for-dc\/blair-bobby_colorized_trans-photoroom_f3638f\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Blair-Bobby_colorized_trans-Photoroom_f3638f-e1742309977843.jpg\" data-orig-size=\"1280,960\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Blair-Bobby_colorized_trans-Photoroom_f3638f\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Blair sees this period as the most uncertain out of the past 20 years of his experience in Washington, D.C. Image courtesy of JLL &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Blair-Bobby_colorized_trans-Photoroom_f3638f-e1742309977843.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Blair-Bobby_colorized_trans-Photoroom_f3638f-e1742309977843.jpg\" alt=\"Bobby Blair, JLL's Executive Managing Director\" class=\"wp-image-1004751099\" style=\"width:414px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Blair-Bobby_colorized_trans-Photoroom_f3638f-e1742309977843.jpg 1280w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Blair-Bobby_colorized_trans-Photoroom_f3638f-e1742309977843.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Blair-Bobby_colorized_trans-Photoroom_f3638f-e1742309977843.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Blair-Bobby_colorized_trans-Photoroom_f3638f-e1742309977843.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption class=\"wp-element-caption\">Blair sees this period as the most uncertain out of the past 20 years of his experience in Washington, D.C. <em>Image courtesy of JLL <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Here\u2019s what they discussed about:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Government downsizing and market volatility pose challenges (01:50)<\/li>\n\n\n\n<li>DC&#8217;s historic stability vs. current uncertainty (02:50)<\/li>\n\n\n\n<li>The unique architectural constraints of DC &nbsp;(06:20)<\/li>\n\n\n\n<li>What\u2019s up with trophy assets? (08:10)<\/li>\n\n\n\n<li>What can the private sector bring to DC? (10:50)<\/li>\n\n\n\n<li>Leasing trends: expansion, downsizing and stagnation (18:35)<\/li>\n\n\n\n<li>The rise and role of flexibility (23:58)<\/li>\n\n\n\n<li>Is there an opportunity for conversions? (27:50)<\/li>\n\n\n\n<li>\u201c\u200aWe&#8217;re trying to figure out what happens next week here.\u201d (30:15)<\/li>\n<\/ul>\n\n\n\n<p><em>Follow, rate and review CPE\u2019s podcasts on&nbsp;<a href=\"https:\/\/open.spotify.com\/show\/192KwbDpOsZbF3dBXfaDkS\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/podcasts.apple.com\/ro\/podcast\/commercial-property-executive\/id1552202952\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>!&nbsp;<\/em><\/p>\n\n\n\n<p><em>Music credit: Sunrise Sprint Office Beats via stocktune.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Can Washington diversify beyond its federal roots? JLL&#8217;s Bobby Blair discusses the market\u2019s fundamentals in this episode with CPE\u2019s Olivia Bunescu. <\/p>\n","protected":false},"author":2703,"featured_media":1004751333,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,11,21747,21795,1615],"tags":[32796,52577],"class_list":["post-1004751049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-midatlantic","category-office","category-podcasts","category-washington-dc","tag-jll","tag-step-into-my-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Step Into My Office: &#039;Wait and See&#039; for DC? - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Can DC reinvent itself beyond its federal roots? 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