The Boston-based REIT achieves a higher rate of return on buildings it delivers in the D.C. area than it does in its five other markets, Piper Sandler analysts said in a report this month on the D.C. market.
The report says BXP’s D.C. developments consistently deliver 8%-plus returns over time.
Piper Sandler Managing Director Alex Goldfarb told _Bisnow_ this outpaces all of its other markets — Boston, New York, San Francisco, Los Angeles and Seattle — where its development returns come in between 6% and 7%.
“They easily deliver like 200 basis points better in D.C. than their other markets,” he said.
As trillions of dollars shift into the hands of the next generation over the coming decade, one D.C.-based angel group is betting that education, not just capital, will determine who gets to participate in startup investment.
Citrine Angels, one of the largest women-focused angel investment groups in the mid-Atlantic, has invested nearly $2 million in 20 women-owned businesses since it launched, up from the $1.4 million in investments it made when the Business Journal featured it as one of its Fire Award winners in 2024.
National office vacancy declined for the first time since 2019, dropping 5 basis points to 22.5% in Q3, according to JLL. However, leasing activity stood at 82% of prepandemic levels.
Space Exploration Technologies Corp., or SpaceX, signed a 24,100 SF lease at Douglas Development’s 1155 F St. NW.
The DC Zoning Commission approved the plans from Horning and The Menkiti Group for a 230-unit apartment building at 901 Monroe Street NE (map). The project, designed by Maurice Walters Architect, will feature a mix of studio, one-bedroom, two-bedroom and three-bedroom apartments, as well as 54 parking spaces.
“There needs to be some revitalization to this long-vacant site,” Commissioner Robert Miller said before voting to approve the proposed development.
PRP Real Assets has inked a deal to bring a new steakhouse and events space to Market Square, the two-building complex it acquired last year at the Archives-Memorial Metro station in downtown D.C.
RPM plans to open the two concepts, combining for 14,700 square feet, in 2027.
[President Paul] Dougherty said he believes the Chicago restaurant group’s willingness to make that kind of investment in downtown D.C. speaks to the company’s commitment to the District, the relationship with PRP as its landlord and the desirability of that spot next to a Metro station and across Pennsylvania Avenue from the National Archives.
Global law firm White & Case LLP is nearing an agreement to take north of 150,000 square feet at a downtown D.C office a block from the White House, a deal that could rank among the largest new leases in the District this ye
OpenAI is one of several California tech companies making moves to lease office space in proximity to federal regulators. Block Inc., the parent company of CashApp and payments platform Square, recently inked an 8,000-square-foot lease in Marx Realty’s The Herald building at 1307 New York Ave. NW.
Publicly traded Palo Alto cloud computing provider ServiceNow Inc. in June announced plans to secure more D.C.-area office space after opening an innovation hub at 1717 K St. NW. Silicon Valley tech behemoth Nvidia is out in the D.C. market for 30,000 square feet. The company as of September had narrowed its search to two or three options. Nvidia is interested in proximity to federal leaders, but 30,000 square feet is larger than most government affairs firms or lobbying shops.