Two recent reports provided new evidence of the continuing office glut and slow leasing rate in the traditionally tight Washington office market.
Overall, office leasing in September and October was down 27 percent from a year earlier, according to the latest report from Julien J. Studley Inc.
Of the new space coming onto the downtown market this year -- 2.55 million square feet -- almost two-thirds was still unleased at the end of October, the report showed.
In the September-October period, 476,000 square feet of new office space was leased, but 400,000 of this was the government's taking of a whole building at 400 C Street SW, the report said.
Another report, by the Apartment & Office Building Association of Metropolitan Washington, showed the high vacancy rate in older office buildings in the old business district -- 12.13 percent out of a total 1.8 million square feet. This is in the section of the Northwest lying east of 16th street and south of K Street.
The Southeast, Southwest and Northeast in the city had a combined vacancy rate of 3.59 percent of 632,922 square feet of older office space.
The central business district north of K Street and west of 16th had a low 2.15 percent vacancy rate for the 5.7 million square feet of older space there. West of 16th but south of K, the vacancy rate was 2.55 percent of 1.9 million square feet. There were no vacancies reported in the 425,000 square feet east of 16th and north of K.