Real estate firm CB Richard Ellis reports vacancy rate in and around the capital city jumped in the last quarter of 2008 while lease rates dropped By Mark Graham In the face of the pervasive economic slowdown, the Washington, D.C. office market, which had seen robust growth for several years, contracted in the last quarter of 2008, according to the latest quarterly report from commercial real estate firm CB Richard Ellis. Vacancy rates climbed to 7.4 percent in the last quarter of 2008, up from 7 percent in the third quarter, and asking lease rates—the price at which landlords offer the property— dropped 5.4 percent to $49.61 per square foot. It has been 11 years since… Read More