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Trophy Continues to Separate from the Rest of the Market:
Trophy vacancy improved 110 basis points to 10.5% on 111,907 square feet of positive net absorption — the only asset class in the District to post gains in Q2.
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Flight to Quality Accelerates in the CBD:
Trophy vacancy in the Central Business District compressed into single digits at 8.5%, absorbing 67,489 square feet, while Class AA added another 59,304 square feet.
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Capitol Hill & NoMa Lead Quarterly Absorption:
The submarket delivered the strongest performance in Q2 with 65,234 square feet of positive net absorption and 17.9% vacancy, led by continued lease-up at 101 Constitution Avenue.
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Supply Continues to Shrink:
With no deliveries year-to-date, just 320,000 square feet under construction market-wide, and an accelerating office-to-residential conversion pipeline, future supply keeps tightening in favor of owners of the highest-quality assets.
