Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-08
INDOWNTOWN SECTION
Trend of Real Estate Values
Noted With interest.
THE CENTER OF ACTIVITY
Difficult to Buy Ground Space; Bust
ness Houses All Occupied.
UPWARD TENDENCY OF PRICES
Lots Selling at More Than sgt Per
Square Foot-High Figures
Elsewhere.
THE CENTER OF ACTIVITY
UPWARD TENDENCY OF PRICES

The trend OF real estate values in tbs
downtown business section is OF more than
usual interest Outside OF the business
circles Of the city shifting Of real estate
values means but little TO any one except
20 the owner Of the property that Is az
ractsd in that way. Leases are short-lived,
as rule. so that establishments may be
had short notice.
But every business man, every man who
occupies an Office as well as those who
have larger quarters In the conduct OF an
extensive business, Is concerned in q change
az value because OF the effect it may have
on his business. II may portend an in
crease or a decrease in revenue 1t may
indicate that during the balance OF mis-
lease he VIII have cheap rent or a high
rent and show that when the time comes
10 renew that lease II will be either neces-
sary TO pay more money for the privilege
OF carrying on his business or possibly to
secure a lower rental
Because OF these reasons the constant
tendency toward an Increase in property
values in the downtown section of this city
during the last year is matter for con-
graduation. not only To owners of prop
erty, but to all business men who possess
q long term lease whose occupancy of
their present quarters Is practically assured.
In no portion of the downtown section has
Their" been any tendency toward q lowering
Of values. In some parts OF this section
the increase has been so marked as TO sur
prise even the most sanguine of real es-
tate men. From I1th street to 18th street
and from PENNSYLVANIA avenue to l street,
which may be considered the limits of the
most active business section of the city,
there have been constant evidences Of an
Improvement i'm values. Tie business center
appears ro have been developed SO extern
slycIy as TO practically fix for many years
10 come the active business interests OF the
CITY Those interests appear TO have CEN
tered within this rather limited strip and
while they are brau. hing of I'm other direC-
lions 'ne enlarged business area appears
only fo emphasize tl, Importance of this
center of activity.
No Vacant Stores
u0a may walk from one end to the other
I'm gits downtown section without discovering
q single vacant store, Desirable office
rooms may be had. bat that is only because
enterprise in the construction of office
buildings has kept pace with the demands
EUf amy one who IS looking for ground floor
space viii find it d difficult matter to locate
In .Iis area except by buying out some
fortunate occupau, who now holds lease
co.'s lue property he uses.
healthy indication IN connection with
1Ai> evidence Of general prosperity is the
fact that rents have not enormously ad-
Naured according to the views expressed
by real estate men. owners OF property be-
ing satisfied to secure a easonable return
or ghctr holdings by encouraging perma-
HsUey OF occupation rather than graspIng
FOR ligb rentals with the uncertainty as to
tho continuance Of advanced prices
During the past year there has been a
mos. marked increase in values in the
G0rliW--t corner Of this business area of
the city, Only recently property owners
weIa surprised upon hearing that 1900
feet OF ground at the corner of 1jth and
n streets were sold for S2l5,00o. or a little
more than S2t per square foot. That prop
eTty was embodied iC the Colonial building
Nsfa r. frontage Of Efty-three feet and eight
inches ON II street and lGI feet on 18th
street This property had been purchased
IN iNlN for Sl4ho". and 1t was sold for
So uHp To- the ow=-I. who rcsold Il FOR
S5f5uut Across the street the Barton
Hotel property sold short time previously
for SO per square tuor. and three years pre-
viously @ LOS on the uu.ta side of the Barton