Here is an update on Washington DC Retail Market. In summary, for details please watch the video on my youtube channel provided above.
•Washington DC Metro Area retail market is showing signs of distress
•Vacancies are high
•The new retail type deliveries are putting extra pressure on the rent growth.
•Northern Virginia market especially Tysons Corner, Reston is still doing fine compared to District and Maryland market.
•Rent growth has also suffered from the pandemic. Dupont circle, Georgetown are the suffered most.
•Cap rates are ranging around mid 6%s.
•Predicting is tough.
•Commercial real estate is a long term game, this could be the best time ever to find a bargain.