Meet the Makers & Industrial Tour of Dc
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SEPTEMBER 27, 2017 MEET THE HOSTED BY SPONSORED BY MAKERS & INDUSTRIAL TOUR OF DC ABOUT WDCEP WDCEP.COM (202) 661-8670 @WDCEP Although attempts were made to ensure the quality of the informa- The Washington DC Economic Partnership (WDCEP) is a non-profit, public-private tion contained in this document, organization whose core purpose is to actively position, promote, and support WDCEP makes no warranty or economic development and business opportunities in Washington, DC. WDCEP’s guarantee as to its accuracy, primary initiatives include: promoting and marketing Washington, DC for business completeness, or usefulness for and entrepreneurship; high-technology organizations and technology startups; any given purpose. and real estate and development. DC INDUSTRIAL OVERVIEW INDUSTRIAL ZONES Industrial land is a strategic asset in the District of Columbia. Businesses PDR-1 low bulk commercial and light manufacturing* operating within the District’s industrially zoned areas support the District’s PDR-2 medium bulk commercial and light manufacturing* economy and create jobs for city residents. However, the District’s supply PDR-3 high bulk commercial and light manufacturing* of industrial land is under market pressure to convert to other uses. MU-10 matter-of-right residential, commercial, recreational and light industrial development** • Since 1975, the District has lost 25% of its industrial land to other uses.1 PDR-4 general industrial uses* • DC has only 5% of its land zoned for industrial use for a total of 1 *Prior to the 2016 zoning update, **The MU-10 Zone was previously classified as the CR 10.3 million SF of industrial property in the District. these zones were designated as CM-1, Zone (the conversion table can be found at http://dcoz. • Ward 5 contains about 50% of all the industrially zoned land in CM-2, CM3, and M Zones, respectively. dc.gov/zrr/ZoneConversionTable.shtm). the District.1 • Production, Distribution, and Repair (PDR) businesses have 1 approximately 10,700 employees (1.5% of DC job base). INDUSTRIAL REVENUE BONDS (IRB) • In DC, retailers are able to buy alcohol directly from local suppliers IRBs provides access to tax-exempt financing - up to 4% lower than a without the need for a wholesale distributor, allowing breweries to traditional commercial loan. IRBs can be used to finance, refinance, distribute their own products. and reimburse the costs of acquiring, constructing, restoring, rehabilitating, expanding, improving, equipping, or furnishing real Demand has grown for industrial space in the city. Over the past 20 years, property and related subordinate facilities. rental rates per square foot of industrial have more than tripled in DC. The current average asking price is $15.20/SF NNN, and the vacancy rate for WASHINGTON D.C. Examples of industrial users taking advantage of IRBs are: industrial properties is 2.8%.2 MARYLAND SILVER SPRING M R D H • Premium Distributors, 3500 Ft. Lincoln Dr. NE: $9.4 M C A E B T S N E A R A E D S L S T TA R E Sources: 1. Ward 5 Works: Ward 5 Industrial Land TransformationR D R Study O N P L TA R A O V P E LE • Central Baking Company, 1329 Kenilworth Ave., NE: $2.8 M EG AT E R (8/2014) 2. 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