Wednesday, March 12, 2014

CBRE Report Says Metrorail Silver Line Will Spur Significant Growth

With the impending arrival of the Silver Line Metrorail service in Tysons Corner and Reston, CBRE says Phase 1 of the Silver Line will spur increases in commercial office leasing and development in the area.
John Jordan, a veteran journalist and contributing writer for Real Estate Forum and, writes that a CBRE special report -- "The Silver Line: Transforming Commercial Real Estate" -- estimates an average of 200,000 square feet of net office demand annually through 2017 in Tysons Corner due to increased employment growth and Metro ridership linked to the completion of Phase 1 of the Silver Line this summer. The nearly $3 billion, 11.4-mile Phase 1 of the Silver Line has been under construction for about five years.
Phase two of the project that will extend Metrorail another 23 miles through Fairfax County into Loudoun County will be finished in 2018.
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