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Market Reports

Washington, DC Q2 2017

A slight up-tick in leasing velocity last quarter was not enough to propel the Washington, DC market’s second quarter net absorption. The three largest leases for the quarter were all Federal renewals. The Department of Education’s 314,243-square-foot lease at 550 12th Street, NW led the quarter’s leasing activity when they signed in early May of this year. On the brighter side, because these leases were renewals, there was little to no contraction. Additionally, owners continue to be bullish with development in the District. Several new projects broke ground in the second quarter bringing the total square footage under development to just over 6.5 million square feet, nearly double what was under construction just a year prior.

Northern Virginia Q2 2017

Recovery from the downturn caused by Sequestration continued for the Northern Virginia office market as demand grew nearly 1.5 million square feet during the first half of 2017. While demand for the remainder of the year is forecasted to continue to grow, it will be at less than a third of what was witnessed during the first half. With the uncertainty of a Federal budget resolution, it is unclear how the Northern Virginia market will be impacted.

Suburban Maryland Q2 2017

Two new office developments are poised to break ground in the next eight months. The first being the follow up to the first phase at Pike and Rose, 909 Rose, scheduled to break ground in early 2018. The Pike and Rose development has been extremely successful in bringing a new live-work-play environment to the North Bethesda market. The second, 7272 Wisconsin Avenue, which will sit on the site of the former Apex Building, is being developed by the JBG companies with an expected ground breaking next quarter. Both high-end office buildings are bringing much needed quality to an overall market where it has been lacking.

Shenandoah Valley Industrial Q2 2017

The Shenandoah Valley market continued its upward trend during the second quarter of the year, with the asking rate for warehouse product averaging above $4.00 per square foot for the first time ever and with over 650,000 more square feet under construction compared to this time last year. Absorption remained positive, albeit far less than the 840,000 square feet that was occupied last quarter by groups such as Fiat Chrysler and Sealy, and vacancy remained flat at 6.8% with many users staying put and frantically searching the market for expansion space. In total, there exists more than 3.7 million square feet of active requirements in need of build-to-suit warehouse up and down the corridor.

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National Insights

Colliers In the News

Colliers in St. Louis Named Top Workplace
The Post-Dispatch honors St. Louis for its regional operations.

Small Businesses Shake up Local Malls
Anjee Solanki featured on Colliers' innovative solution for a client.

Dylan Taylor on Leadership
Dylan Taylor offers his perspectives on company culture and growth

Mika Mattingly, Gerard Yetming Join Colliers to Lead Urban Division
New group will focus on downtown Miami, downtown Fort Lauderdale and West Palm Beach

How Retailers Become Part of the Community Fabric
Becoming ingrained in a community requires an investment in public outreach, judicious use of technology and deep analysis, but it can make the difference between a store’s success or failure, Colliers International’s national director, retail services USA Anjee Solanki tells

Industrial Brokers from Across Nation Tour Memphis Logistics Industry
Commercial real estate brokers from Canada and the United States toured Memphis today to get a first-hand look at the region’s logistics abilities.

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Press Releases

Colliers International Group Inc. Announces Normal Course Issuer Bid
Toronto Stock Exchange accepts notice filed by company with respect to outstanding subordinate voting shares.

Colliers International Continues Expansion In New York Tri-state Region
Adding Colliers Long Island further strengthens operations in the region.

Colliers International Expands Further in Michigan
Adds operations in Grand Rapids and Kalamazoo

Colliers in St. Louis Named Top Workplace
The Post-Dispatch honors St. Louis for its regional operations.

Gilley Joins Western Institutional Investment Team
Capital Markets veteran will be based in San Francisco

Colliers Expands Project & Development Management Platform
Acquires Gorton & Partners, one of the most respected project management firms in NYC

AMP Technology and Colliers International Collaborate to Unveil the Next Generation Technology in Retail Services at ICSC
Unveiling of the most advanced site selection capabilities in the industry by AMP

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