Cassidy

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Washington DC AreaOffice Market Overviewfor
Urban Land InstituteMay 8, 2003

• Cassidy Pinkard

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• Presented byRobert M. Pinkard

www.cassidypinkard.com
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(No Transcript)
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Washington Area Office MarketsInventory and
Vacancy Rates 1st Quarter 2003
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Washington Area Office MarketsHistorical Year
End Vacancy Rates
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Washington Area Office MarketsAbsorption
1998-2003
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Washington Area Office MarketsNew Space
Construction 2001-2005
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Washington, DC Office MarketNew Deliveries-Net
Absorption-Vacancy Rate1990-2003
Vacancy Rate
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Washington, DC Office MarketTen Largest
Transactions 2002-2003

• GSA DOT 1,350,000 sf East End
• Wilmer Cutler Pickering 525,000 sf CBD
• GSA SEC 400,000 sf Capitol Hill
• Finnegan Henderson 250,000 sf East End
• CareFirst Blue Cross/Blue Shield 244,300
  sf Capitol Hill
• GSA National Park Service 217,011 sf CBD
• Winston Strawn 153,900 sf CBD
• DC Government 149,656 sf Capitol Hill
• GSA EPA 135,656 sf East End
• Corporate Executive Board 122,603 sf CBD

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Northern Virginia Office MarketTen Largest
Transactions 2002-2003

• GSA TSA 480,000 sf Pentagon City
• Fannie Mae 378,000 sf Reston
• GSA Office of Naval Research 311,000 sf
  Ballston
• Titan Systems 280,000 sf Reston
• Unisys 279,012 sf Reston
• BAE Systems 162,275 sf Reston
• BAE Systems 134,000 sf Reston
• General Dynamics 117,502 sf Merrifield
• Sunrise Assisted Living 116,338 sf Tysons Corner
• IBM 99,794 sf Reston

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Northern Virginia Office Market New
Deliveries-Net Absorption-Vacancy Rate1996-2003
Vacancy Rate
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Northern Virginia Vacancy Rates 1st Quarter 2003
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Suburban Maryland Office Market New
Deliveries-Net Absorption-Vacancy Rate1996-2003
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Suburban Maryland Office MarketTen Largest
Transactions 2002-2003

• GSA-HHS 230,000 sf N. Rockville
• NIH 130,299 sf N. Bethesda
• Fannie Mae 95,000 sf Bethesda
• HHS 83,613 sf Rockville
• Dental Benefit Providers 75,000 sf N. Rockville
• Hewlett Packard 72,000 sf N. Rockville
• NIH 71,000 sf Rockville
• Advancis Pharmaceutical 66,875 sf Germantown
• FDA 65,000 sf College Park
• APS Healthcare 60,000 sf Silver Spring
• NCR 60,000 sf Germantown
• FDA 60,000 sf N. Bethesda

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Washington Metro AreaTotal Value of Sales by
Jurisdiction 1999-2003
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Washington Metro AreaAverage Price per Square
Foot 1999-2003
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Reston Town Center Lease
2000
Late 2002/2003

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Tysons Corner Class A Building Lease
2000
Late 2002/2003

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Ballston Class A Building Lease
2000
Late 2002/2003
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Washington, DC Law Firm Prelease
2000
Late 2002/2003
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Washington, DC Class A Lease

2000
2003

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Washington, DC Class A Building Sale
3000-3050 K Street 536,206 sf
2001 Price 154,250,000 Buyer Shorenstein
2003 Price 185,000,000 Buyer Broadway Real
Estate Partners
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Arlington Class A Building Sale
1525 Wilson Blvd. 299,223 sf
2001 Price 57,750,000 Buyer Blackstone Group
2003 Price 71,250,000 Buyer Glenborough
Realty Trust
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