Discover What’s New and Interesting in Our Backyard
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.
With approximately 623,000 residents, Baltimore accounts for 23 percent of the region’s total population. Baltimore’s ideal location, with easy access to port, rail, air and highway, fuels a stable economy and strong employment. Baltimore is ranked 9th in downtown population and 12th in downtown employment, and has experienced a surge in the numbers of well-educated young adults who are migrating to the city, according to the Baltimore Development Corporation.
Baltimore is home to more than 60 federal agencies and research labs, as well as major employers in the health care, information and cybersecurity, finance and banking, and hospitality/entertainment industries, according to the Baltimore Development Corporation. The Baltimore commercial real estate market currently demonstrates stable fundamentals, but there is some concern about future growth due to fiscal, monetary, and political uncertainty, according to real estate services firm Cushman & Wakefield.
The metropolitan 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.
About Fidelity National Financial
Fidelity National Financial, Inc. (FNF) is currently ranked #402 on the 2019 Fortune 500®*, and is among numerous defense, energy, media, hospitality and financial Fortune 500®* companies based in the region. Our D.C. and Baltimore teams 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.
*From FORTUNE Magazine, June 2019 ©2019 Time Inc. Used under license. FORTUNE and FORTUNE 500 are registered trademarks of Time Inc. and are used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, Fidelity National Financial.