The Washington, D.C. area ranks sixth in the United States for the volume of scheduled new office constructions in 2019, according to the Commercial Café annual report released on April 15. Data shows that about 6.2 million square feet across 24 projects will be completed in D.C. this year.
When it comes to the East Coast metropolitan area, D.C. ranked second after New York City. In 2018, the District ranked fifth in the report, with 4.4 million square of office space delivered in that year.
Douglas Development‘s 655 New York Ave. NW is the biggest D.C. office project this year and the 16th largest in the country. The 757,000-square-foot future headquarters for the Advisory Board is planned to open in May.
Last year, Carr Properties’ 862,000-square-foot Midtown Center was ranked 10th largest in the nation, while the 970,700-square-foot Capital One Headquarters II was the eighth.
Country Projects
This year, New York City ranked first for office deliveries, with 46 projects currently under construction that total to about 16 million square feet. The San Francisco Bay area is the second with 37 projects totaling 10 million square feet.
Apple’s 2.9 million-square-foot campus in Cupertino, California, is the largest office project which is expected to be completed this year. The campus was ranked high on the list last year, as well, as several of its phases were completed.
The second-largest office project is Time Warner’s 2.6-million-square-foot 30 Hudson yards skyscraper in Manhattan slated to be opened this year.
DC Commercial Real Estate Market to See Growth in 2019 [Report]