Archive for the ‘DC’ Category

Washington DC Office Market: 2016 Forecast

February 24th, 2016

Bolstered by a robust economic performance, the office market in Washington DC delivered a fine performance throughout 2015. Unemployment levels in the DC metropolitan area were at their lowest since 2008, reaching figures well below the US national average (4.3 per cent vs 5 per cent). These conditions have helped shape a real estate market that is predominantly favourable to landlords, as the following trends demonstrate:

  • Rental values continued their slow recovery throughout 2015 and are currently set around the $50 / square foot mark.
  • Availability rates for all types of office space went down to 16.3 per cent. Towards the end of 2015, approximately 13.2 million square feet of office space were vacant.
  • The most significant transactions involved lease renewals or re-lets, although there have been several large sale transactions taking place in the city’s East End too.
  • Annual absorption levels were high at 887,000 square feet, and construction activity increased by 22 per cent on a year-on-year basis.
  • However, here has modest decrease in vacancy rates, especially as far as Class A space is concerned. Vacancy rates for these types of office properties still remain relatively high at 11.5 per cent. Vacancy levels for Class B and Class C space in Washington were slightly lower at 10 per cent.
  • Washington DC Office Market: 2015 Key Facts & Figures

    During 2015, vacancy rates for all types of office space in Washington went down to 10.5 per cent, pretty much in line with the city’s historical average of 10.7 per cent. At the same time, net absorption levels increased by a staggering 185 per cent, going from 198,000 square feet in 2014 to 398,000 by December 2015. Nearly half of the transactions involved office stock in Washington’s CBD, which clearly outperformed all other sub-markets. This is attributed to the ongoing influx of new tenants relocating from secondary office locations into the CBD. This trend began to be evident in 2014 and has been solidified over the past 12 months. Read the rest of this entry »

    The Top Ten Favourite Cities to Work in

    June 12th, 2014

    Looking for a new job provides you with the opportunity for a fresh start in many ways. You can choose a job based upon a location in which you know you will be happy. You can also search for jobs based on salary, lifetime earning potential, benefits, prestige, work experience and office culture. However, you may want to make the location of your job one of the priorities in your job search. If you choose a location in which you can happily live, work and play, you will be less likely to suffer from job burnout or dissatisfaction in the long run. Whether you are looking for a change of scenery or want to live in an area with a thriving economy, here are ten U.S. cities that should be on your list.

    1. Dallas, Texas

    Kiplinger ranks Dallas, Texas, as a top place for new graduates to live and work. The median salary for college grads is about $42,900 a year, and the average apartment rent is $799 a month. About 6.3 million people live in Dallas, and the unemployment rate in the area is only 6.3 percent.

    2. Washington, D.C.

    Washington D.C. is an excellent place for millenials to work, live and play. The city is thriving with job opportunities in the political and corporate worlds. The median salary for college graduates is about $46,100 a year. When you live in D.C., you won’t have to worry about saving funds for an entertainment budget. Many attractions, such as national museums and the National Zoo, are free of cost.

    3. Minneapolis, Minnesota

    Minneapolis is quickly turning into a popular city for workers due to its low cost of living, low rent costs, smoke-free regulations, gorgeous parks and beautiful lakes. Individuals can enjoy living in a metropolitan city and also have access to natural settings on the weekend.

    4. Denver, Colorado

    The downtown area of Denver is a major attraction for workers. The city-wide bike sharing program can help you cut costs on transportation. Denver also has plenty of restaurants, shops, casinos and nightlife attractions for your time off. You also won’t have a problem finding a great craft brew in the city, as Denver features many pubs and bars that have been instrumental in creating craft brews.

    5. Boston, Massachusetts

    Boston is known for being a center of business, finance, politics, shopping, theatre and great restaurants. The city is booming with job opportunities. With attractions like the Boston Marathon and major athletic events, you will always have something to do after work hours in Boston.

    6. Anchorage, Alaska

    Anchorage is becoming an attractive spot for job seekers due to its high median income of $47,600 and low rent costs. Alaska also does not feature a state income or sales tax. After work, you may enjoy activities like fishing, snowboarding and touring glaciers in the region.

    7. Houston, Texas

    A promising job market is a major attraction for those seeking a new career in Houston. Home values are also expected to increase in the upcoming years, and individuals can find homes for sale at competitive prices in Houston.

    8. Ann Arbor, Michigan

    Home to the University of Michigan, individuals can enjoy living in a city that is thriving with culture and things to do. New grads and job seekers can find high-paying jobs in this college town. University of Michigan is the largest employer in Ann Arbor. Free educational and entertainment events are consistently offered throughout the town.

    9. Miami, Florida

    Surrounded by gorgeous beaches, Miami is a great city for work and play. The city boasts a thriving economy and is also surrounded by other job-producing cities, such as West Palm Beach and Fort Lauderdale.

    10. San Francisco, California

    San Francisco is an attractive city for jobseekers due to its plentiful opportunities in the tech and finance industries.

    As you look for the perfect city for work and play, you should consider what matters most to you. These top cities can give you a starting point for finding a job in a location where you will feel happy and satisfied.

    Sources:
    1. http://www.kiplinger.com/article/real-estate/T006-C000-S002-best-cities-to-live-work-and-play.html
    2. http://www.huffingtonpost.com/2014/04/15/top-young-cities-millennials_n_5152929.html

    The Top 10 U.S. Cities for High Paying Tech Jobs

    May 4th, 2012

    As tech companies offer higher pay for developers, ten cities stand out in the U.S. as the highest paying for IT jobs. San Jose, San Francisco and New York offer the highest salaries. Those who are searching for the highest paying IT jobs obviously need to head west. Statistics from the recruiting company CyberCoders points out that the average salaries in San Jose and San Francisco average $14,000 more than in third ranked New York City.

    The top 10 list does contain cities scattered throughout the U.S. where lucrative jobs can be found. Major cities like Boston, Washington D.C., Dallas and Chicago are included on the list. The greatest increase in salaries has come in mobile development positions. However, IT salaries have gone up across the board in the last year. Individuals who acquire multiplatform skills and are able to design and code within the constantly changing world of mobile applications become the highest paid workers.

    The cities that rank highest in pay for IT jobs in high-range, mid-range and low-range salaries are:
    1. San Jose, CA
    2. San Francisco, CA
    3. New York, NY
    4. Washington, D.C.
    5. Boston, MA
    6. Los Angeles, CA
    7. Brooklyn, NY
    8. Philadelphia, PA
    9. Chicago, IL
    10. Dallas, TX

    The Roche Group is pushing back the frontiers of healthcare in 150 countries, employing about 80,000 workers. It has become one of the largest research-based healthcare groups. Genentech, a subsidiary, has led the biotech industry for over 30 years. They use human genetic information to develop specialized medicines for life-threatening diseases. The headquarters for Roche pharmaceutical operations are located in the U.S. Their philosophy is that the employees are their most important asset and they are dedicated to maintaining a great work place along with providing the best salaries for IT workers. Their CRM Techs provide expert technical information for Genentech’s Commercial Operations. They are responsible for maintaining project work, enhancements, and problem solutions. They work with onsite contractors and a Poland-based development team. These workers must be familiar with a variety of databases, with a strong technical foundation that includes advanced structured programming. Salary compensation for these positions is among the highest in the field.

    CompuTech, located in Clarkstown, NY offers Desktop Support Tech positions with a world renowned computer manufacturing company. These are contract positions requiring backgrounds 5 years’ experience in both HP hardware and software, Windows XP and Windows 7 maintenance. Salaries are commensurate with experience and skill levels.

    Similar positions may be found in any of the cities listed above. Depending on the applicant’s skills and training, and where he wants to work, high-paying IT jobs are available throughout the country.

    The Top Ten Companies to Work for in Washington DC

    March 19th, 2012

    Amtrak
    Headquartered in Washington, DC, Amtrak is a government-owned corporation that has been providing interstate train travel since 1971. Amtrak is actually the DBA of the National Railroad Passenger Corporation, and it employs 20,000 people throughout the United States and Canada. Amtrak serves over 30 million people on 21,200 miles of track.

    AES Corporation
    AES is an electrical power utility that both generates and distributes electrical power throughout the world. It is a Fortune 200 company that provides electrical power to over 27 countries, and maintains holdings in most of these companies to help generate that power. Their revenue was over $16 billion in 2010, and resulted mostly from their utilities division. They maintain a workforce of 28,000 employees worldwide.

    Kiplinger
    Kiplinger, established in Washington DC, specializes in producing business forecasts in a number of different industries. It helps its clients by creating a financial prospectus that takes into account all of the different variables of their respective industries, while projecting possible gains due to certain strategies. In 2007-8, Ethisphere magazine named Kiplinger one of the most ethical companies in America, solidifying its reputation for a very high standard of ethics.

    Capital One
    Capital One is one of the largest bank holding companies in the United States. They operate a number of different lending programs, and are most well known for their credit card products. Capital One employs almost 28,000 people around the world, and has posted revenues of $16 billion for the year 2010. It is the fourth largest client of the United States Postal Service, and sponsors a number of professional and amateur sports teams. They generally sponsor college football, European soccer, and Canadian curling events.

    Fannie Mae
    Fannie Mae is the common name of the Federal National Mortgage Association. It was created in 1938 as part of the New Deal during the Great Depression. It had a profit of $14 billion for the year 2010, even after a significant restructuring of the business following the economic collapse of the first decade of the new millennium.

    Freddie Mac
    Freddie Mac is a publicly sponsored government entity that deals in secondary mortgage bundling. After a significant restructuring after the housing collapse of 2008, Freddie Mac has been turned into a more well-functioning entity that has become more financially viable. They posted revenues of $14 billion in 2010, and employ 5,300 people.

    Gannett Company

    Gannett Company is the largest US newspaper publisher, with such major national holdings as USA Today and USA Weekend. It was started in 1906 in Rochester, NY by Frank Gannett, and has developed into one of the most financially viable print companies in the United States. It posted revenues of more than $5 billion in 2010, and has been pioneering the move toward digital media with the downturn of traditional print media. Gannett employs more than 32,000 people.

    General Dynamics

    General Dynamics is a United States defense conglomerate that is headquartered in West Falls Church. During the cold war, the company was highly involved with the development of defense technologies, but has diversified after the fall of the Iron Curtain. They posted revenues of nearly $32 billion in 2010, and it employs over 91,000 people over four major aspects of their business.

    Goodwill Industries
    Goodwill Industries is a non-profit business that operates a number of thrift stores and job training centers throughout the United States. Their headquarters is in the Washington, DC area, and they are one of the largest non-profits in the world. Goodwill Industries employes thousands of people at more than 2,000 different Goodwill locations throughout North America. While they are a non-profit, there are a number of different paid positions at the headquarters.

    Interstate Hotels and Resorts
    Interstate Hotels and Resorts is one of the largest hospitality companies in the entire country, with locations scattered throughout the United States, Canada, and 6 other countries throughout the world. They specialize in running up-scale businesses such as resorts and high-class hotels. They are a subsidiary company of the Thayer Lodging Group, which is based in Maryland. They are well known throughout the world as a holder of many reputable brands.