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General:
The Capital of the U.S., Washington D.C. is 68.3 square mls (177 km2) and was originally known as the District of Columbia and is now frequently referred to as “the District” or “D.C.”. Washington is in a great location on the northern bank of the Potomac River and the District is surrounded by the states of Virginia to the southwest and Maryland to the northeast, southeast, and northwest. The Washington Metropolitan Area has a population of 5.3 million people and is the 9th largest metropolitan area in the U.S. The highest natural point of land in the Washington area is Point Reno which is in a location in Fort Reno Park in the Tenleytown neighborhood and the geographic center of the Washington D.C. area is near the intersections of L Streets NW and 4thStreet.
Almost 20% of Washington is park land inc the Chesapeake and Ohio Canal National Historical Park which was established as a National Monument in 1961 and starts in Georgetown, Theodore Roosevelt Island which features a statue of Theodore Roosevelt in a memorial plaza, Rock Creek Park whose main section is roughly 1,750 acres, the Constitution Gardens which are in a location between the Lincoln Memorial and the Washington Monument, the National Mall which has roughly 24 million visitors each year and Anacostia Park which contains Kenilworth Park and Aquatic Gardens, Kenilworth Marsh and the Langston Golf Course.
Architecture:
Six out of ten of America’s favorite buildings and landmarks are in locations in Washington: the White House, home of the American President, the Washington National Cathedral which is in a location on Wisconsin and Massachusetts Ave and is the sixth largest cathedral in the world, the Thomas Jefferson Memorial which is located in West Potomac Park, the United States Capitol Building which is the meeting place of the United States Congress; the Lincoln Memorial which was dedicated in 1922 and the Vietnam Veterans Memorial which is just to the northeast of the Lincoln Memorial.
The oldest architecture in the Washington district is the Old Stone House in Georgetown which was built in 1765 and the largest property in the District is The Ronald Reagan Building which has a total area of roughly 3.1 million square feet (288,000 m2).
Transport:
Over 37% of Washington commuters choose to use public transport services to travel to work which is the second highest rate in the U.S. The Metrobus and Metrorail (also known as “the Metro”) services are operated by the Washington Metropolitan Area Transit Authority (WMATA). They service the entire Washington area and also the immediate surrounding suburbs of Virginia and Maryland. The Metrorail system is over 105 mls long and is the 2nd busiest rapid transit system in the U.S. The system has 86 stations inc. Union Station on the Red Line which also serves as southern terminus of Amtrak's Northeast Corridor and Acela Express service. Union Station is actually the 2nd busiest station in America and it also services Maryland's MARC and Virginia's VRE commuter trains. Intercity bus service are also available from Washington and are run by several bus companies inc. Greyhound, BoltBus, Megabus, Peter Pan.
Washington is serviced by three major airports providing various options for a visiting business Director or executive to land at: “Ronald Reagan Washington National Airport” in Arlington County, Virginia which is located just across the Potomac River from downtown Washington and has its own Metrorail station, “Washington Dulles International Airport” is in a location just over 26 mls (42.3 km) west of Washington in the Virginian counties of Fairfax and Loudoun and “Baltimore-Washington International Thurgood Marshall Airport in Anne Arundel County in Maryland.
Business:
Washington has a diverse economy with a gross state product in 2008 of $97.2 billion. The federal government in Washington accounts for about roughly 30% of jobs in the area which gives the area a degree of protection from economical downturns. Many varied organizations have their headquarters (hq) in commercial property in or near Washington D.C. inc law firms, independent contractors (both defense and civilian), non-profit organizations, lobbying firms, trade unions, industry trade groups, and professional associations. The Washington Metropolitan Area has one of the lowest rates of unemployment out of the 49 largest metro areas in the U.S.
Washington also has many industries which are not directly related to the government inc. finance, scientific research and education. The top four non government related employers in the city of Washington are Georgetown University, George Washington University, Washington Hospital Center and Howard University and Washington also has five Fortune 1000 companies and two Fortune 500 companies. Washington also homes the headquarters (hq) of the International Monetary Fund (IMF), the Inter-American Development Bank, the World Bank, the Organization of American States (OAS), and the Pan American Health Organization (PAHO).
Washington is the 3rd largest downtown district in terms of commercial office space and commercial real estate in the entire U.S and is one of the leading U.S. cities for foreign real estate investment. Office space in Washington commercial property ranges from the flexible rent terms of executive suites in business centers, outright property sale, sublet / sublease office space agreements and the much longer terms of traditional long term leasing contracts. Sub-lease, sublet and the long terms of traditional leasing contracts are usually administered by local Washington realtors and realestate /realty agents (although officebroker.com can still help you search for this kind of Washington office space) and are generally applied to large, open-plan spaces which are provided with no additional corporate business services.
If your business prefers the benefits and security of more flexible rent terms, Washington offers a long directory of commercial property, executive suites and corporate business centers which offer fully furnished executive suites and serviced offices on monthly rent terms. Washington executive suites and serviced offices in Washington commercial real estate are generally decorated prior to tenant occupancy and are generally provided with full office furniture inc. high quality executive desks and chairs. Most business centers in commercial property in Washington also offer a directory of additional executive business services which inc. full, professional reception services which are managed by trained receptionist staff, ad hoc meeting suites which can be rented as and when required, cctv security systems, secretary services, modern cat 5 cabling for broadband internet services and phone systems which are pre-installed and managed by onsite I.T. managers or a commercial property management team.
Districts:
The Washington District is divided into four quadrants which are Southwest (SW). Northwest (NW), Southeast (SE), and Northeast (NE). Each quadrant radiates from the U.S. Capitol building and all road names inc. a note of the quadrant they are in e.g. 4th Street NW. Many of the roads in Washington are named after the U.S. states inc. Pennsylvania Avenue, which runs between the U.S. Capitol building with the White House and Massachusetts Avenue known locally as Embassy Row. Other Washington districts inc “Dupont Circle” in Northwest Washington, D.C. which is named for the traffic circle which is in a central location at the intersection of New Hampshire Avenue NW, Massachusetts Avenue NW, P Street NW, Connecticut Avenue NW and 19th Street NW. The neighborhood of Dupont Circle is bounded by 22nd Street NW to the west, M Street NW to the south, 15th Street NW to the east and Florida Avenue NW to the north; “Foggy Bottom” which is to the west of downtown in the Northwest quadrant and is roughly bounded by Rock Creek Parkway to the west, 17th Street to the east, Pennsylvania Avenue to the north, Constitution Avenue to the south.
“Logan Circle” in the Northwest quadrant is a historic neighborhood which lies six blocks east of Dupont Circle. Logan circle is bordered by 9th Street to the east, S Street to the north, Massachusetts Avenue to the south and 16th Street to the west. The “Shaw” neighborhood is in a location in the Northwest quadrant and is roughly bounded by New Jersey Avenue NW to the east, N Street NW to the south, Florida Avenue NW to the north and 11th Street NW to the west. “Columbia Heights” is also located in the Northwest quadrant and borders the neighborhoods of Adams Morgan, Shaw, Pleasant Plains, Mount Pleasant, Park View, Petworth, and LeDroit Park and the “the U Street Corridor” is a 9 block stretch of U Street in the northwest quadrant which extends from 18th Street and Florida Avenue on the west to 9th Street on the east.
Higher Education / Healthcare:
The District of Washington has 16 hospitals and medical centers inc. the National Institute of Health which is in a location in nearby Bethesda in Maryland, Washington Hospital Center (WHC) which is the largest hospital campus in the Washington area, the Children's National Medical Center. Many of the city's larger universities have associated teaching hospitals and medical schools inc. Georgetown University which is the oldest Roman Catholic university in the U.S. and George Washington University which has campuses in Foggy Bottom, Mount Vernon and Ashburn.
For further information on commercial real estate in Washington offering office space, complete our online inquiry form to contact one of our Washington commercial property consultants
