Montgomery County
Planning Department
2425 Reedie Drive, 14th Floor
Wheaton, MD 20902
Planning Department
2425 Reedie Drive, 14th Floor
Wheaton, MD 20902
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This archive page is no longer updated and may contain out-of-date information
Office Market Assessment Report
Prepared for the Montgomery County Planning Department by Washington, DC-based Partners for
Economic Solution (PES), this in-depth study examines the changing regional office market and best
practices for next-generation office development. View the full report and infographic.
View the powerpoint presentation from the June 25, 2015 Planning Board meeting.
Findings
The research highlights unprecedented challenges confronting the Washington, DC region’s office sector,
including high and rising vacancies, flat rents and slow absorption of new and relet space.
- Still recovering from the Great Recession, the region has been hard hit by cuts in federal spending and
leasing, and by shifts in the amount, type and location of office space that tenants want. - Most jobs created since 2010 have been in retailing, restaurants and medical facilities instead of offices.
- Office tenants everywhere are reducing their square footage via new technologies, more efficient
workspace designs and practices such as telecommuting, hoteling and benching. - The data show that Montgomery County office centers located in mixed-use developments with
quality amenities, a sense of place and good transit connectivity are best positioned to compete. This
trend is consistent with recommended land use strategies in recent County plans for White Flint, Bethesda, White Oak and other communities. - Single-use office developments without convenient transit or highway access are attracting fewer
tenants. - Future office development is likely to occur at a slower pace and concentrate in prime locations. Less
attractive locations may not attain the level of office development and occupancy they experienced in
the past.
View the full report and infographic.
Staff contact
Lisa Madigan Tate
Senior Research Planner,
Economic Development & Commercial Real Estate
Research & Special Projects Division
301-650-5623
Lisa.Tate@MontgomeryPlanning.org
Last updated: October 19, 2016