South Atlantic Regional Forecast
Delaware • District of Columbia • Florida • Georgia • Maryland North Carolina • South Carolina • West Virginia • Virginia
This region’s economy has a mix of the good, the bad and the just plain ugly. It enjoys one of the better office construction markets in the nation with Washington, D.C./northern Virginia, which sports downtown and suburban vacancy rates of 13% and16.3%, respectively. High rates to be sure, but better than all but a few major metropolitan areas. While many of the region’s major markets are enjoying a double-digit bounce in building permits, Miami and Fort Lauderdale, Fla., are among the nation’s leaders in foreclosures. Relatively few $100 millionplus projects broke ground during 2010 here outside of the $369 million new headquarters for the U.S. Coast Guard in Washington, D.C., and nearly a billion dollars’ worth of hospital construction in Florida, North Carolina and Delaware.