Boston Properties: Washington DC

Washington DC Region

Quick Facts

As of September 30, 2011
In-Service Properties: 48
Square Footage: 10,155,870
Occupancy: 95.4%

This market, which encompasses Northern Virginia and suburban Maryland in addition to the District of Columbia, is the nation's fifth largest metropolitan area and third largest office market after New York and Chicago. The economy of the entire region benefits enormously from the presence, stability and funding of the Federal Government. It is home to one of the most highly educated work forces, the highest concentration of scientists and engineers, and the second largest concentration of high technology firms in the country.

Business service and government consulting industries, particularly knowledge based enterprises such as information technology management and data communications firms, have been the driving engines of growth. Fairfax County, Virginia, has become the technology center of the region, while Montgomery County, Maryland, is experiencing the emergence of specialized research companies, reflecting proximity to and increased funding from the National Institutes of Health and U.S. Food and Drug Administration and strengthening the overall economic growth and diversity of the area.