vacancy rates are up in Washington D.C.

Washington D.C., which only a few years ago was one of the strongest U.S. office markets, has been hit with a double whammy in recent years. Federal austerity measures has diminished demand and put excess space back on the market. Boeing and Northrop Grumman moved out and in the Rosslyn-Ballston submarket the vacancy rate went from 10% in 2011 to 22% at the end of last year. A 31-story office tower with 575,000 square feet has been waiting since 2013 for its first tenant. (The Wall Street Journal February 10, 2015)

Office Space in Houston

Houston has over 17 million square feet of new office buildings currently under construction, but with the steep decline in oil prices, as a result, tens of thousands have been laid off in Houston. The silver lining is there should be some awesome tenant deals available for those still needing office space. (The Wall Street Journal February 10, 2015)

Paper towels are safer than hand dryers?!

Save a tree, catch a cold… “Hand dryers spread bacteria in restrooms.” New research from the University of Leeds shows that the space surrounding jet dryers is more contaminated than the air near paper towel dispensers… The amount of germs recorded near jet air dryers was 4.5 times higher than around warm air dryers and a full 27 times higher than the air surrounding paper towel dispensers. (IREM)

Co-Working on Vacation

An interesting new work concept, Co-Working on Vacation, with new centers of co-working spaces being set up in exotic locations around the world – where creative types can combine vacationing with synergistic brainstorming with like-minded others from all over the world. “The high-speed Internet, fully stocked office, access to a kitchen and camaraderie of other guests at barbecues, biking trips and other planned group activities, all contributed to productivity. (New York Times, January 19, 2015)