Local CRE Trends

Transfer and Recordation Taxes Changes:
Anne Arundel, Montgomery County, Maryland and the District of Columbia

View a short synopsis of 3 upcoming modifications to transfer/recordation taxes in the DMV

_______________________________________________________________________________


FNT-Most-Trustworthy-Companies-in-America-2023-(1).png
Fidelity National Financial, Inc. proudly ranked the #2 most trusted company in the insurance industry by Newsweek.
 
Click to view list: Most-Trustworthy-Companies-America-2023


Local-CRE-Trends-Banner-84-23.jpg

Discover What’s New and Interesting in Our Backyard

As the nation’s capital, Washington, D.C. is steeped in history and is renowned for its distinctive character: it is at once an epicenter of politics, world-class tourist destination, working federal city and home to more than 672,000 residents.

The Washington metropolitan area, which includes “the District” and parts of Maryland, Virginia and West Virginia, is home to approximately 6.1 million residents and is the sixth-largest metropolitan area in the United States. As a major international hub for government, big business and tourism, our nation’s capital and its surrounding states feature some of the most dynamic and complex commercial real estate in the country.

Washington, D.C. has been experiencing an urban renewal for the past two decades, with billions in new investments in its downtown area, nearby neighborhoods and waterfront area. Investment in new retail, restaurants, and entertainment options have resulted in a population surge, according to the Washington DC Economic Partnership (WDCEP). The D.C. population has increased by 9 percent since 2010, and retail construction is on the rise to meet the population demand, with 1.9 million retail square footage under construction, according to WDCEP.

The area’s diverse economy creates unique opportunities for commercial real estate development. In May 2017, Washington, D.C. was named #6 on the IESE Cities in Motion Index, which ranks the world’s “smartest” cities analyzing their level of development in 10 key areas: governance, urban planning, public management, technology, the environment, international outreach, social cohesion, mobility and transportation, human capital and the economy. Easy access to lawmakers, close proximity to cybersecurity investment dollars, and a number of smart initiatives help to strengthen the commercial real estate market.

Commercial real estate construction remains at a fevered pace, the most since 2008, according to global real estate services firm Colliers International, with just over half of the space already committed after the first quarter of 2017.

About Fidelity National Financial

Fidelity National Financial, Inc. (FNF) is currently ranked #359 on the 2023 FORTUNE 500®*, and is among numerous defense, energy, media, hospitality and financial FORTUNE 500®* companies based in the region. Our DC-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more.

Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.

*FORTUNE and FORTUNE 500 are registered trademarks of Time Inc. From FORTUNE Magazine, June 2023 ©2023 Time Inc. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of Fidelity National Financial. Chicago Title Insurance Company is a member of the Fidelity National Financial family of companies and the nation’s largest group of title companies and title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title, and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States.


The Latest Articles From the FNF Newsdesk:

Too Much Washington Is What Ails U.S. Manufacturing
pm EDT Popular on the left is this trope that Washington’s unwavering commitment to free markets is responsible for the demise of America’s once mighty manufacturing sector. A mutation of that...

Dow Hits 40,000: On The Road To 1,00,000?
pm EDT In a stunning display of resilience, the Dow Jones Industrial Average recently surpassed the 40,000 milestone, a feat that seemed improbable just two years ago when the Federal Reserve began...

The Dow Jones hits 40,000 for the first time. What to know about this major milestone
The Dow Jones Industrial Average surpassed 40,000 points on Thursday for the first time ever, signaling a strong endorsement of the health of the U.S. economy. The trigger that drove the market to a...

If My Bank Fails, What Happens to My Money?
...out money -- a cycle that eventually dooms the institution. However, the FDIC pointed out that the bank also failed “to mitigate interest rate risk.” When the Federal Reserve started hiking rates...

Dow crosses 40,000 for the first time
New York CNN  —  The Dow broke past the 40,000 threshold Thursday morning for the first time ever, fueled by an encouraging inflation report. The blue-chip index briefly hit 40,000.54 before...

Watch for These Signs of Recession As the Fed Keeps Rates Elevated
A couple of weeks ago, the Fed did as was expected and kept the...

As bad as you may think the economy is now, it’s nowhere near the 1970s
...many Americans have delayed indefinitely with record-high home prices and painfully high mortgage rates. “So no, it’s not the 1970s, but it’s understandable why people are still upset.”

Japan’s economy contracts in first quarter
Tokyo Reuters  —  Japan’s economy contracted in the first quarter, squeezed by weaker consumption and external demand and throwing a fresh challenge to policymakers as the central bank looks to...

What is inflation? What causes it? Here's how it's defined and what the latest report means
The latest inflation readings showed a mixed bag as drops in grocery and used car prices balanced out increases in rent and gasoline. Overall prices increased 3.4% from a year earlier, down from...

Social Security's 2025 COLA estimate inches up but Medicare Part B premium may wipe it out
The latest estimate of Social Security's cost-of-living adjustment for 2025 rose to 3.2% after the government reported that April inflation was in line with economists' forecasts, new calculations...