Washington DC Office Market Q1 2025

Office market recovery trends, which were first observed in Q4 2024, continued through the first quarter. Vacancy rates
declining slightly and Trophy supply was increasingly tight.

Leasing demand was average for the first quarter, with local government and law firm tenants driving the most leasing volume.  A meaningful increase in return-to-office rates was seen in Q1, which should have a positive impact on office demand.

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