The Increasing Levels of Vacant Office Space: The Achilles’ Heel of DC's Office Market
When a city's commercial office buildings are experiencing a trend of increasing net vacant space over the long term, it signifies a growing lack of demand for office space in the market. This surplus of available office space can prompt a decline in property assessment values as the buildings produce less net income and are considered less sought-after assets. In this context, fewer investors/potential buyers may be less inclined to purchase these buildings, reducing sale prices for the few transactions that do occur.
