Find and Lease Washington, D.C. Office Space
As the capital of the United States and the seat of the federal government, it’s no surprise that office space in D.C. naturally attracts agencies, lobbying firms, think tanks, and nonprofits that want to be close to the federal government. The federal government itself employs nearly one-third of the D.C. workforce. However, the private sector in Washington, D.C. is continuously diversifying, and the D.C. area is home to a variety of big and small businesses engaged in healthcare, technology, media, tourism, education, business management, and scientific research.
D.C.’s hiring pool is filled with seasoned and educated professionals, and the four colleges in the area guarantee a regular flow of new talent. The historical and cultural attractions in the area provide a backdrop for the dynamic food, music, sports, and outdoor scenes that make Washington, D.C., an attractive home to businesses of all kinds.
Washington D.C. Office Space | Lease Data & Trends
How much does Washington, D.C. office space cost?
With more than 116 million square feet of commercial real estate inventory (nearly half of which is Class A property) and nearly 7.5 million square feet of new construction and renovations underway, there are plenty of Washington, D.C. office space options for companies of all shapes and sizes. The average D.C. office space rent comes out to just under $60 per square foot, and $68 for office space in a Class A building.
Market trends reported in Q4 of 2017 show a steady increase in demand for mixed-use non-core submarkets, including Georgetown, West End, Dupont-Logan-Shaw, Ballpark, and NoMa. Most new construction is in these neighborhoods.
D.C. Office Space for Rent | Popular Neighborhoods
Capitol Hill is the largest business center in D.C. The neighborhood is bordered by the Anacostia River, H Street corridor, Washington Navy Yard, and the National Mall. Capitol Hill’s five million square feet of office space is often rented by government relations firms and agencies, at the highest prices for Class A property in D.C. The Orange, Red, Silver, and Yellow lines all stop in Capitol Hill, as well as plenty of bus routes.
Washington D.C.’s Central Business District is in the northwest quadrant of D.C. and extends approximately six blocks north, west, and east of the White House. Plenty of boutique law firms, government contractors, non-profits, and business management consultants rent office space in Downtown D.C., as well as a rising number of software and media companies. The presence of George Washington University provides employers with a talented young hiring pool. The Red, Blue, Orange, and Silver lines all connect at the Metro Center, located just a few blocks from the White House.
Dupont-Logan-Shaw is a primarily residential district that combines the historic charm of Dupont Circle and Logan Circle with the more modern and up-and-coming Shaw neighborhood. No Class A inventory is available in this district. Dupont Circle has the largest concentration of international embassies in D.C. and attracts companies with global interests. Other commercial tenants in the area also include business management and sales consultants, real estate offices, nonprofits, and software companies. Four metro stations and a dozen buses service the area.
East End is also referred to as Old Downtown and includes Penn Quarter, Chinatown, Judiciary Square, and Mount Vernon Square. The neighborhood offers the third most expensive selection of Class A properties in D.C., which is often rented by companies in the asset management, insurance, investment, healthcare, and legal sectors. Verizon Center is located here and has revitalized the area into an art and entertainment hub. All six metro lines stop in the area, and commuters have their pick of bus lines as well as the DC Circulator.
Georgetown is located around the intersection of M Street and Wisconsin Avenue. Many companies in the architecture, design, communications, media, and tech sectors rent office space in Georgetown and businesses in the area employ around 13,000 people. Georgetown office space is in high demand due to its low inventory and waterfront location. Three metro stations are located within one mile of Georgetown, and the 30-series, D-series, and G2 buses have routes through the neighborhood. Drivers can take the Whitehurst Freeway along Georgetown’s southern border, or commute from Arlington via the Francis Scott Key Bridge.
Market District encompasses D.C.’s oldest public marketplace, Eastern Market. The neighborhood has a 50% vacancy in Class A inventory, partly due to higher-than-average rents. Eastern Market attracts small family-owned businesses, restauranteurs, and artists. Market District is easily accessible via the Blue, Orange, and Silver Lines.
NoMa stands for “North of Massachusetts Avenue” and stretches just over a mile north of Union Station. NoMa is home to the Union Market food hall, NPR, Amazon’s D.C. headquarters, and the most affordable Class A prices. NoMa’s working population is close to 54,000 people, and the majority walk, bike, or take public transit to work. The presence of Union Station provides employees from outside D.C. with an easy commute. NoMa is also served by the Red Line and about a dozen buses and is one of the most bike-friendly districts with a protected cycle track and eight Capital Bikeshare stations.
Five different neighborhoods compose the southwestern and smallest quadrant of DC: the Southwest Federal Center, the Southwest Waterfront, Buzzard Point, Joint Base Anacostia-Boiling, and Bellevue. Despite its small size, Southwest has over 12 million square feet of inventory at prices well below the city average. Many federal executive branch office buildings are concentrated in Southwest Federal Center. The Blue, Orange, Silver, Green and Yellow lines all stop at Southwest stations.
An affluent residential neighborhood, Upper Northwest offers only Class B and Class C properties. Over 25% of Class B property is vacant at an average of $43 per square foot, which attracts many law offices, business management consultants, and tax consultants. The neighborhood includes Glover Park, Cleveland Park, Tenleytown and Friendship Heights. Upper Northwest is accessible by the Red Line, eight bus routes, and a variety of ride shares.
Home to Nationals Park baseball park, the Ballpark district is located south of Capitol Hill and between Interstate 395 and the Anacostia River. Nationals Park stimulated further development in the neighborhood, which is evident in the thriving Capital Riverfront area that has nearly 6.2 million square feet of private office space and attracts tenants in the media and creative industries. With average Class A prices around $20 less than Capitol Hill, Ballpark office space is perfect for companies wanting immediate access to DC at affordable prices. The Green-Line runs to the Navy Yard-Ballpark Station.
Located in D.C.’s northwest quadrant, the West End is defined by K Street, Rock Creek Park, and New Hampshire Avenue. West End office space attracts lobbyists, special interest groups, federal contractors, and financial advisors as well as the energy and technology industries. The Blue and Orange Lines run along Eye Street, and commuters can also choose from a handful of bus lines.
Getting Around Washington, D.C.
With three major airports, six Metrorail lines, three commuter rail services, nine intercity bus lines, and 350 Metrobus routes, there are never-ending options to getting around Washington, D.C. Public transportation is encouraged, but street and garage parking is available for those who choose to commute via car, although parking tends to fill up quickly. Car rentals, care shares, and taxis are always available.
Employees will find the heart of most neighborhoods to be very walkable. The D.C. area is very bike friendly, with off-street trails and on-street bike routes all around the city and more than 350 Capital Bikeshare stations.