GWCAR 2001 Year-End Market Report
A Statistical Snapshot of the Greater Washington Area Commercial Real Estate Market in 2001.
Washington, DC Office Report

 
Final Report
 
Total Inventory: 102,165,290
New Deliveries and Completed Renovations: 3,941,376
Net Absorption: 2,951,742
Projects Under Construction and Under Renovaton: 4,596,207
Vacancy Rate(Excluding Sublet) 4.4%
Vacancy Rate(With Sublet) 5.9%
   
Office Space Available: Square Feet
Direct(New & Relet): 4,495,273
Sublet: 1,532,479
Total Office Space Available: 6,027,752
Space in Projects Under Construction and Under Renovation: 2,097,492
   
Under Construction (u/c) and Under Renovation (u/r)  Listing Buildings by address:  
2025 E Street, NW 750,000
101 Constitution Avenue, NW 501,225
575 6th Street, NW 472,809
500-550 7th Street, NW 438,000
1625 Eye Street, NW 375,683
900 7th Street, NW 350,000
500 5th Street, NW 352,000
601 New Jersey Avenue, NW 256,931
830 1st Street, NW 225,000
1899 Pennsylvania Avenue, NW 187,986
1875 K Street, NW 170,132
1220 12th Street, SE 145,059
1750 H Street, NW 111,510
800 F Street, NW 110,424
1330 G Street, NW 62,000
607 14th Street, NW(Westory Annex) 57,713
800 8th Street, NW 29,735
800 8th Street, NW 29,735
  Total: 4,596,207
   
New Deliveries and Completed Renovations Listing Buildings by Address  
1501 K Street, NW 370,855
555 11th Street, NW 368,880
1111 Pennsylvania Avenue, NW 355,855
701 9th Street, NW 349,000
1201 15th Street, NW 300,000
300 M Street, SE 281,296
1201 Eye Street, NW 271,756
80 M Street, SE 267,995
1725 Eye Street, NW 246,528
1425 K Street, NW 214,029
799 9th Street, NW 201,462
1201 M Street, SE 200,000
2099 Pennsylvania Avenue, NW 199,118
1310 L Street, NW 135,975
1399 New York Avenue, NW 122,930
1750 Massachusettes Avenue, NW 32,738
1203 19th Street, NW 22,959
Total Square Footage: Total: 3,941,376

Top Ten Largest Non-Renewal Lease Transactions  
Square Feet Tenant Address
650,785 Securities & Exchange Commission Station Place
243,791 Venable Baetjer Howard & Civiletti 575 7th Street, NW
200,841 Federal Trade Commission 601 New Jersey Avenue, NW
166,431 Department of Justice 20 Massachusetts Avenue, NW
159,714 Immigration & Naturalization Services 20 Massachusetts Avenue, NW
140,000 Anteon 140 M Street, SE
105,754 DC Department of Employment Services 77 P Street, NE
95,410 CareFirst BlueCross/BlueShield 1250 Maryland Avenue, SW
85,840 Department of Veteran Affairs 1722 Eye Street, NW
81,013 Department of Energy 955 L'Enfant Plaza, SW
     
Top Ten Largest Office Sales Transactions:    
Price Address Purchaser
$180,000,000 1300 Eye Street, NW Teachers Insurance & Annuity Association
$157,000,000 1501 K Street, NW Kan Am/Westwind Capital
$154,250,000 3000 & 3050 K Street, NW    Shorenstein Companies
$95,000,000 2001 K Street, NW Bernard Spitzer
Lend Lease Real
$84,500,000 1201 F Street, NW* Estate/Hannover Reinsurance
Blue Capital Investments
$83,283,,000 2099 Pennsylvania Avenue, NW Kaempfer Co.
$81,700,000 700 13th Street, NW Beacon Capital
$73,250,000 1330 Connecticut Avenue, NW Steptoe & Johnson
$68,300,000 80 M Street, NW Crow Holdings
$68,000,000 1155 21st Street, NW Equity Office Properties
*Partial interest sale; sale price based on estiate of total capitalization.