After five quarters of rising rents, the District's average asking rent fell slightly to $56.01 per square foot in Q4, with Class A rents declining to $60.18. Vacancy rose due to 400,000 square feet of new inventory and negative absorption, which totaled over 400,000 square feet this quarter and 1.5 million for the year. New deliveries included 600 5th Street NW, while demolitions and conversions removed over 331,000 square feet from inventory.
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