A chart with the From the Ground Up feature in the Jan. 8 Washington Business section incorrectly said that Ross Development had purchased a building at 200 Wisconsin Ave. in Bethesda. The building was not sold.
Commercial Real Estate Remains Strong
Monday, January 8, 2007
The Washington area's commercial real estate market continues to be one of the top-performing in the nation, with low vacancy rates and high rents. Government agencies and contractors, law firms, educational groups and associations continue to lease large chunks of space.
Because the market is strong and relatively stable, compared with other cities that depend on volatile industries, investors flush with cash are seeking to buy up buildings. In recent years, these investors -- mostly private-equity firms and pension funds -- have driven up the price of real estate in the Washington region to levels that some say may be nearing a bubble.
Data collected by regional real estate firms give the following rundown of some of the biggest real estate deals of 2006: