Marcus & Millichap Promotes Stacey Milam to First Vice President Investments in Washington, DC

 WASHINGTON, D.C., Dec. 7, 2009 — The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Stacey Milam (top right photo)  to the position of first vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists.

It represents excellence in the development and servicing of long-term client relationships, according to David Feldman, regional manager of the firm’s Washington, D.C. office.

Milam joined Marcus & Millichap in December 1999. He was promoted to associate in 2001 and earned senior associate status in December 2002.

Milam advanced to senior investment associate in July 2005 and vice president investments in January 2008. He specializes in the sale of multifamily properties and currently serves as a director of the firm’s National Multi Housing Group. Milam has received numerous sales achievement awards from Marcus & Millichap, including five National Achievement Awards.

 Contact:  Stacey Corso, corporate communications, stacey@marcusmillichap.com

Washington, DC Office Market Bucking National Trends

WASHINGTON, D.C., July 22, 2009 — Although the recession is weighing on the Washington, D.C., employment base and office market, both have endured economic stresses better than expected, according to a second-quarter Office Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Indeed, the year-to-date reduction in employment has not been as detrimental to the metro’s office market, as most of the losses are in blue-collar industries.

“Tight lending markets, fewer institutional buyers and fears of a deepening recession have all contributed to tepid office investment activity in the Washington, D.C., metro,” says Ramon Kochavi (top right photo), regional manager of the Washington, D.C. office of Marcus & Millichap.

Following are some of the most significant aspects of the Washington, D.C. Office Research Report:

· With work force reductions projected to peak in the second and third quarters, local employers will cut 25,200 positions, or 1 percent, from payrolls in 2009, following the elimination of 1,700 jobs last year. Roughly 4,300 office-using personnel will be let go this year, a 0.6 percent decline.

· After inventory expanded by 7.5 million square feet in 2008, construction output will fall to 6.5 million square feet this year, in line with the five-year average.

· Continued losses in office-using employment sectors will underpin a 220 basis point rise in vacancy in 2009 to 13.7 percent. Last year, vacancy increased 240 basis points.

· Metrowide asking rents are projected to decline 2.1 percent to $35.66 per square foot this year, while effective rents will recede 2.7 percent to $30.64 per square foot. In 2008, asking and effective rents gained 3.3 percent and 1.0 percent, respectively.

For a copy of the complete Washington, D.C. Office Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Recession Weighs on Washington, DC Retail Investment Activity

WASHINGTON, DC— Despite the Washington, D.C., metro’s high concentration of jobs and affluent households, the recession continues to weigh on the local retail market, according to a second-quarter Retail Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

Fortunately for local property owners, President Obama’s inauguration provided a temporary reprieve from economic headwinds.

“The recession has hampered retail investment activity in the metro, though demand for single-tenant assets was resilient through the end of last year,” says Ramon Kochavi, (middle left photo) regional manager of the Washington, D.C. office of Marcus & Millichap.

“A shift in sales trends has occurred, however; in the first quarter, as fears of further reductions in consumer spending limited transactions to a small number of fast-food properties.”

Following are some of the most significant aspects of the Washington, D.C. Retail Research Report:

· Employment levels in the metro are expected to recede by 0.6 percent, or 18,400 jobs, in 2009. Last year, 12,100 workers were let go.

· Retail construction will slow to 4.1 million square feet this year, after builders completed 5.4 million square feet in 2008. Approximately 2.2 million square feet is expected to come online in suburban Maryland, and 1.9 million square feet is projected in northern Virginia.

· Easing retail demand and persistent inventory expansion will boost vacancy 200 basis points to 7.3 percent in 2009. Vacancy increased 170 basis point last year.

· This year, asking rents are projected to decline 3.3 percent to $26.65 per square foot, while effective rents will recede 4.1 percent to $23.94 per square foot. Asking rents rose 0.8 percent in 2008, and effective rents retreated 0.4 percent.

For a copy of the complete Washington, D.C. Retail Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.

Press Contact: Stacey CorsoCommunications Department(925) 953-1716