Category: Market Insight

Prince George’s is being unfairly excluded on federal leasing

Market Insight

By Kwasi G. Holman, Washington Post

Monday, August 2, 2010

Whenever the federal government casts its net for office space in the Washington region’s commercial real estate market, the District and Fairfax, Arlington and Montgomery counties are the ones most likely to snag the leases — and the economic benefits. But Prince George’s County is often overlooked.

More than 25 percent of the region’s federal workforce resides in Prince George’s, according to the National Center for Smart Growth Research and Education at the University of Maryland. Yet the county has only 70 out of 1,134 federal leases in the region’s private market, according to Jeffrey D. Ludwig, senior vice president at NAI Michael, a real estate firm in the county.

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Business owners & decision makers look to take advantage of market to save on lease rates

Market Insight

By Andy Mayr, Senior Vice President, NAI Michael

It’s that time again!  You have 1, 3 or 6 months to decide whether you should do one or more of the following options:

  • renew your lease where you are
  • relocate the entire business operations to a more well-suited space/building
  • renew and expand at your current lease
  • consider purchasing instead of leasing
  • down-sizing to a smaller space
  • search the market for a better deal
  • open an secondary business location
  • sell your property and lease space instead

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