Class B office upgrades necessary to compete
- Class B offices will need finish and amenity upgrades to compete with quality Class A offices
- Negative absorption this quarter was concentrated within two suburban buildings
- The Westlawn Building located at 2300 Bull Street completed construction and tenants began to occupy their space
Class A office space within the Columbia market continues to post positive absorption quarter-over-quarter due to the ongoing flight-to-quality trend. This is creating a widening gap between Class A and lesser-quality office space. This quarter two large properties contributed most of the negative office absorption within Class B and C space, while Class A offices posted a positive absorption of 42,736 square feet.
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