• Gross leasing volume was down in Q3 2019, attributable mainly to muted activity by the government sector. On the other hand, private-sector tenants remained active during the quarter, with activity focused on relocations and expansions in Montgomery County.  
  • Financial and business services sectors were the two biggest growth drivers during the quarter, posting 52,000 and 43,000 sq. ft. of occupancy gains in Q3 2019 respectively.
  • Construction activity remains robust in the market, with both build-to-suit (1.4 million sq. ft., two buildings) and speculative (1.3 million sq. ft., five buildings) developments near all-time highs.