Washington, D.C.

Metropolitan Region
Quarterly Statistics

First Quarter 2011

Direct Direct Overall Overall Under YTD Construction/ YTD YTD YTD YTD
Vacant Vacancy Vacant Vacancy Construction/ Renovation Direct Overall Leasing Renewal Direct Asking Rental Rates
Inventory Buildings Space Rate Space Rate Renovation Completions Absorption Absorption Activity Activity U/C Class A All Classes

Capitol Hill / NoMa 11,856,422 43 1,644,886 13.9% 1,679,372 14.2% 606,368 320,966 106,828 105,976 491,221 0 N/A $52.71 $50.76
East End 36,103,899 153 3,171,989 8.8% 3,724,656 10.3% 169,038 0 30,628 47,144 288,122 78,310 N/A $60.56 $53.76
CBD 31,981,656 181 3,457,693 10.8% 3,972,021 12.4% 655,934 430,900 (85,332) (24,589) 341,787 11,438 N/A $61.85 $52.56
West End/Georgetown 5,226,557 33 448,993 8.6% 543,468 10.4% 0 0 72,471 65,104 44,000 0 N/A $57.82 $43.44
Uptown 3,531,201 31 293,234 8.3% 413,973 11.7% 0 0 35,526 (26,440) 1,000 0 N/A $44.00 $38.94
Southwest 11,115,786 33 2,310,555 20.8% 2,323,575 20.9% 0 0 145,680 158,178 1,037,690 657,759 N/A $51.78 $51.76
Capitol Riverfront 4,282,403 11 476,518 11.1% 494,031 11.5% 391,923 0 9,396 9,396 4,066* 79,797 N/A $47.96 $44.80
Washington, DC 104,097,924 485 11,803,868 11.3% 13,151,096 12.6% 1,823,263 751,866 315,197 334,769 2,207,886 827,304 N/A $56.22 $51.35

Rosslyn 8,245,705 38 560,540 6.8% 678,040 8.2% 524,605 0 (199,293) (200,591) 162,233 263,522 N/A $49.19 $40.27
Arlington Metro Corridor 5,295,918 34 539,394 10.2% 684,426 12.9% 99,930 0 (204,603) (210,709) 55,088 19,028 N/A $43.66 $41.72
Ballston 5,830,294 28 273,124 4.7% 392,204 6.7% 628,676 0 (86,685) (148,313) 5,775 0 N/A $40.44 $38.55
Crystal City/Pentagon City 11,956,380 44 834,969 7.0% 881,094 7.4% 0 0 52,638 48,951 56,259 0 N/A $41.64 $38.63
Arlington Non-metro 1,203,921 8 27,377 2.3% 31,525 2.6% 0 0 (3,914) (8,062) 0 0 N/A $34.50 $26.19
Arlington County 32,532,218 152 2,235,404 6.9% 2,667,289 8.2% 1,253,211 0 (441,857) (518,724) 279,355 282,550 N/A $42.78 $39.63
Old Town 8,346,971 78 707,483 8.5% 784,347 9.4% 0 0 (12,596) (60,251) 19,727 0 N/A $37.01 $33.97
I-395 Corridor 3,139,624 23 788,483 25.1% 850,396 27.1% 0 0 (11,676) (19,946) 0 0 N/A $35.09 $33.95
Huntington/Eisenhower 2,628,401 21 328,583 12.5% 328,833 12.5% 0 0 59,002 59,002 10,643 0 N/A $40.07 $33.11
Alexandria 14,114,996 122 1,824,549 12.9% 1,963,576 13.9% 0 0 34,730 (21,195) 30,370 0 N/A $36.24 $33.81
Springfield/Annandale/Baileys 6,509,379 54 636,824 9.8% 691,913 10.6% 325,419 94,280 172,090 173,537 33,803 38,370 N/A $31.50 $25.74
Merrifield/Route 50 6,781,681 56 949,443 14.0% 1,091,823 16.1% 0 0 (10,292) 6,031 176,976 0 N/A $34.05 $31.74
Fairfax/Oakton/Vienna 9,061,637 83 1,391,059 15.4% 1,516,417 16.7% 0 0 124,017 156,596 35,085 196,373 N/A $28.27 $26.53
Tysons Corner/McLean 22,102,986 148 3,567,548 16.1% 3,958,597 17.9% 0 0 210,116 216,758 83,546 248,815 N/A $38.43 $30.30
Reston/Herndon 25,131,681 189 4,596,589 18.3% 4,958,222 19.7% 0 0 (427,599) (340,407) 126,917 84,233 N/A $30.60 $28.59
Route 28 South/Chantilly 9,166,852 73 1,499,985 16.4% 1,595,225 17.4% 0 0 75,903 75,903 13,266 20,451 N/A $29.26 $28.13
Fairfax County 78,754,216 603 12,641,448 16.1% 13,812,197 17.5% 325,419 94,280 144,235 288,418 469,593 588,242 N/A $31.68 $28.91
Loudoun County 5,067,869 57 1,322,731 26.1% 1,354,503 26.7% 0 0 (4,374) (874) 108,718 0 N/A $26.34 $25.38
Northern Virginia 130,469,299 934 18,024,132 13.8% 19,797,565 15.2% 1,578,630 94,280 (267,266) (252,375) 888,036 870,792 N/A $32.94 $30.44

Bethesda/Chevy Chase 8,300,204 61 695,163 8.4% 913,988 11.0% 0 0 (35,722) (63,800) 131,407 4,664 N/A $42.82 $33.22
North Bethesda 7,821,446 54 1,361,614 17.4% 1,396,256 17.9% 0 0 (41,965) 114,023 10,647 59,704 N/A $34.87 $32.37
Rockville 6,623,949 60 830,997 12.5% 886,675 13.4% 0 0 93,875 88,808 76,363 0 N/A $36.71 $32.71
North Rockville 8,681,777 78 1,602,270 18.5% 1,822,855 21.0% 358,440 0 (62,897) 22,062 84,505 28,563 N/A $31.98 $29.63
Gaithersburg 2,187,123 34 463,318 21.2% 472,272 21.6% 0 0 38,030 (9,979) 8,244 6,939 N/A $24.14 $23.20
Germantown 1,747,131 23 321,579 18.4% 345,119 19.8% 0 0 (9,683) (5,741) 91,350 0 N/A $30.96 $24.06
Silver Spring 4,789,986 42 502,800 10.5% 553,010 11.5% 0 0 43,187 37,923 45,260 0 N/A $29.99 $26.72
North Silver Spring
p g 1,055,127
, , 20 150,249
, 14.2% 174,519
, 16.5% 0 0 2,753
, (7,956)
( , ) 0 0 N/A N/A $21.60
$
Montgomery County 41,206,743 372 5,927,990 14.4% 6,564,694 15.9% 358,440 0 27,578 175,340 447,776 99,870 N/A $33.30 $30.01
Beltsville/College Park 4,149,978 66 685,957 16.5% 685,957 16.5% 0 0 (18,890) (20,831) 0 0 N/A $24.77 $21.76
Laurel 972,061 18 142,942 14.7% 153,032 15.7% 0 0 912 912 7,939 0 N/A $18.75 $18.86
Greenbelt 2,837,971 31 701,826 24.7% 708,470 25.0% 0 0 (51,492) (43,024) 27,220 0 N/A $23.54 $22.38
Landover/Lanham 3,002,065 62 709,090 23.6% 729,779 24.3% 0 0 (34,820) (29,445) 9,115 0 N/A $22.82 $22.05
Bowie 780,082 12 203,016 26.0% 234,260 30.0% 0 0 4,518 4,518 0 0 N/A $31.06 $30.22
Oxon Hill/Suitland 1,932,496 46 433,067 22.4% 436,381 22.6% 0 0 (8,608) (6,133) 0 0 N/A $23.02 $22.76
Prince George's County 13,674,653 235 2,875,898 21.0% 2,947,879 21.6% 0 0 (108,380) (94,003) 44,274 0 N/A $24.27 $22.59
Suburban Maryland 54,881,396 607 8,803,888 16.0% 9,512,573 17.3% 358,440 0 (80,802) 81,337 492,050 99,870 N/A $30.88 $27.54

Metropolitan Washington, DC 289,448,619 2,026 38,631,888 13.3% 42,461,234 14.7% 3,760,333 846,146 (32,871) 163,731 3,587,972 1,797,966 N/A $41.24 $36.17

Notes: Rental rates reflect asking $psf/year

* Revised
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