D.C. area office vacancies reach 12.3% - Denver Business Journal:

http://homemaestry.wordpress.com/2011/04/08/glass-dressing/
The commercial real estat services firm says theWashington region’s office vacancy rate has now reached 12.3 Lease losses in the last three quarterz meant “virtually negating any growth in net demand we had in said Kevin Thorpe, director of market researcj for Cassidy & Pinkard Colliers. “There are flickering signs that the locall economy may be reaching an inflection pointy where conditions should begimto improve, but the commerciap industry still has a ways to go before demans returns in a meaningful way.” In net absorption was negative 230,900 squar e feet, pushing D.C.’s vacancy rate to 9.6 percent.
In Northermn Virginia, net absorption was negative 666,700p square feet. Northern Virginia’s second quarter officed vacancy rate climbedto 13.6 percent. Suburban Maryland’w office vacancy rate was 14 percent, with a positived net absorption rateof 171,500 squarer feet in the seconde quarter. Thorpe predicts the growth in federal government will lead to an increase in demand for office but says the Washington area has more new space delivering over the next two yearz than any other market inthe country. As a result, “w are entering into a period of steaduyrent declines,” he said.