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Old 05-18-2016, 06:49 PM   #1
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Developers bailing on Metro DC commercial properties

Selling properties, selling land, and cutting their losses.
A man gazing on the stars is at the mercy of the puddles in the road
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Old 05-18-2016, 07:59 PM   #2
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Re: Developers bailing on Metro DC commercial properties

Originally Posted by stellarfun View Post

Selling properties, selling land, and cutting their losses.
Interesting. Mostly in pretty suburban places. The fact that Skyline City emptied out (44% occupancy) is funny to me as I remember them building Skyline 7 around 2000 because the existing buildings were all full.

I think the article doesn't put enough of the blame on the BRAC in 2012 though. They link to that article, but almost tangentially. You had major defense agencies in those buildings who were moved to offices on bases. When DISA left, of course SAIC (one of their major IT suppliers) decided to leave as well. That is more about the whims of the DOD than trends toward more urban offices or Metro access. It appears Crystal City is having the same issues and it has its own Metro station.
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