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CBRE: D.C. Office Vacancy Hits All-Time High in Q2

Washington D.C.’s office vacancy rate reached an all-time high of 15.2% in the second quarter of 2020, according to CBRE’s Washington D.C. Office MarketView Q2 2020, surpassing the 15% mark for the first time on record.

During the second quarter, a number of developers delivered new office buildings with large blocks of available space. Additionally, D.C. posted 300,000 square feet of occupancy loss in the second quarter.

Despite headwinds in the near future from the nationwide economic downturn caused by the ongoing COVID-19 pandemic, CBRE noted that nonprofits had a strong showing for the third quarter in a row, contributing more gross leasing activity and net occupancy growth than any other industry sector.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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