| Total Inventory: |
63,415,540 |
| New Deliveries and Completed Renovations: |
769,743 |
| Net Absorption: |
771,756 |
| Projects Under Construction and Under Renovation: |
1,788,905 |
| Vacancy Rate (Excluding Sublet): |
7.97% |
| Vacancy Rate With Sublet: |
9.10% |
543,666 4,878,282 639,877 6,061,825 751,614
Office Space Available: * New:
*Relet:
*Sublet:
*Total Office Space Available:
Space in Projects Under Construction and Under Renovation:
Montgomery
County 2 Bethesda Metro Center(u/c) 277,133 4920 Elm Street 43,200 6001 Executive Boulevard 215,000 King Farm Blvd 154,214 14825 Physicians Lane 72,000 400 Professional Drive 2273 Research Boulevard(u/c) 151,000 15001 Shady Grove Road(u/c) 55,000 801 Thompson Avenue(u/r) 50,000 55 W Watkins Mill Road(u/c) 7600 Wisconsin Avenue(u/c) 197,017 Washington Boulevard(u/c) 350,000 Prince Georege's County
Under Construction (u/c) and Under Renovation (u/r) Square
Feet
129,202
38,000
57,139
1,788,905
1998 Buildings Taken out of Inventory Square
Feet 8485 Fenton Street 34,119
New Deliveries and Completed
Renovations Square Feet Montgomery
County 6010 Executive Blvd 121,580 5630 Fishers Lane 55,000 250 Hungerford Drive 137,800 1445 Research Blvd 104,748 1455 Research Blvd 114,869 2301 Research Blvd 93,746 16 S Summit Avenue 42,000 Prince George's
County
5303 Chrysler Way 50,000 14999 Health Center Drive 50,000 Total 1998 New Deliveries and Completed
Renovations 769,743
|
Largest Non-Renewal Lease Transactions |
Address |
Square Feet |
|
1) Manugistics, Inc.* |
Washingtonian Blvd |
300,000 |
|
2) US Generating* |
7600 Wisconsin Avenue |
197,017 |
|
3) National Institutes of Health (NIH) |
6700 Rockledge Drive |
145,480 |
|
4) Celera Genomics |
45 West Gude Drive |
113,960 |
|
5) Manugistics, Inc. |
101 Orchard Ridge Drive |
101,142 |
|
6) Sodexho Marriott |
9801 Washingtonian Boulevard |
100,000 |
|
7) Discovery Communications |
2 Bethesda Metro Center |
81,084 |
|
8) NASD, Inc |
9801 Washingtonian Boulevard |
68,577 |
|
9) Manugistics, Inc. |
9801 Washingtonian Boulevard |
68,577 |
|
10) Discovery Channel |
4430-4350 East-West Highway |
64,000 |
|
* Prelease |
|
Largest Office Sales Transactions |
|||
|
Address |
Purchaser |
Square Feet |
Price |
|
1) 8401, 8403 & 8405 Colesville Road |
TrizecHahn Office Properties |
691,000 |
$91,000,000 |
|
2) 12501, 12510, 12520 Prosperity Drive; 8737 Colesville Road, 110 N Washington Street |
Atlantic Realty Companies |
824,000 |
$72,000,000 |
|
3) 8100-8400 Corporate Drive; 8100, 8200-8240, 8300 Professional Drive; 5900 Centreville Road; 1390 Piccard Drive* |
Bedminster Capital |
584,616 |
$51,000,000 |
|
4) 2,3,4,5 Choke Cherry Road; 2092-2098 Gaither Road |
TA Associates |
497,000 |
$50,637,500 |
|
5) 11400 Rockville Pike |
Glenborough Realty Trust |
339,174 |
46,200,000 |
|
6) 9901 Business Parkway, 4601, 4640, 4850, 5001 Forbes Blvd; 5000, 5200, 9701 Philadelphia Way; 4819-4881 Walden Lane** |
Westbrook Partners, LLC |
566,112 |
42,200,000 |
|
6) 11200 Rockville Pike |
Ohio State Teachers Pension Fund |
184,000 |
$37,475,000 |
|
7) 11300 Rockville Pike |
TA Associates |
263,000 |
$36,500,000 |
|
8) 4800 Montgomery |
American Realty Advisors |
133,503 |
$34,133,000 |
|
9) 1401 Rockville Pike |
HUB Woodmont LLC |
190,000 |
$32,050,000 |
|
10) 15 & 45 W Gude Drive |
The Meridian Group, Inc. |
221,030 |
$24,000,000 |
|
* Includes 5900 Centreville Road (VA) in the purchase from Mulligan/Griffin Properties LLC | |||
|
** Office/flex purchase from Allstate Insurance |
|||
|
This list does not include TrizecHahn's 2/98 ($560 million) portfolio purchase. |
|||
(*) Indicates CORRECTED figures for the February 26, 1998 release of the "1997 Consensus Report"