Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-10-16

No phase of the realty market is stud
led with more attention and intelligence
than business property.
A good deal of money has bNen made
in buying and selling such property.
Growth of the business center and de-
velopment Of outlying and new centers
have served for years to draw attention
Of investors.
At times the market has become high
ly speculative. Figures have been quoted
In connection with transactions which
afterward have been regarded as almost
absurd.
The market for business property comes
and goes. One period of activity has
been followed by indifference. Then q
wave Of interest has set In.
Through 1t all there has been steady
movement forward. Property is worth
more now than few years ago. Rentals
are more in keeping with what is asked
for property than was the case during
some periods of development from purely
resident thoroughfares into business
streets.
such a transformation has taken place
along F, G. and III and connecting streets
There has been extension also to north
and the west.
New Business Section.
An entirely new section has sprung up
in the neighborhood Of 18th and H streets
and along Connecticut avenue. north Of
H street, while new centers are to be
found at 14th and y streets. and at l4th
street ana Park road. Such changes have
given stimulus to the market for bust
ness property. and this has been added to
by changes which were brought about
through consolidating all railroad traffic
of the city into the new Union station.
The project Of the government to &C
quire all land between r. Pen mayiu IA
18th street has a direct and important
bearing on business property. In that
section is found a great deal OF the
wholesale business OF the city. as wei! as
light manufacturing and other establish
ments.
has so impressed holders OF property
there that they have either moved their
business or have secured locations in
other sections where they can go when
the need arises.
Naturally this has served to increase
demand for property. When the addition
as well as the growth in volume Of BUSH
ness, it is not SO surprising after all
that business property values have been
on a rising scale for some years.
Investment and Speculation.
Interest In this subject, especially
by strangers who come here attracted
by the prospect Of a good return on in
vested money. is shown in part by in
quiries which come to the brokers and by
the ease with which propositions of this
sort can be negotiated.
While the return ON the money in the
net receipts from the property Is natural
ly a factor in all such transactions, yet
the facts are not overlooked that values
are growing and that there is a chance
of charging the revenue which the prop
erty yields.
On this account there is a speculative
element in the market for property of this
class, and transactions are occurring
when men buy merely for a rise to get |
the profit. For the most part, however, |
the buying is for investment.
improvements in such localities clearly
indicate what is going on and show
the growth in the business of the city.
bouldings could not be profitable.
The gradual occupation of a new Sc
ton OF the city for commercial purposes
had already been pointed out in the
changes In property holdings and in the
character of the improvements which |
have been in progress for some time in |
the locality west Of 18th street and south |
of Pennsylvania avenue. This is recog- |
ntzed as business section, not for re- |
tail establishments. but supply places and
centers. To some extent, 1t is |
predicted it will be substitute for the |
region to the east south OF Pennsylvania |
avenue, and, in fact. several places To- |
Gated in the latter section have removed |
there.
Wholesale Interests.
It has been supposed that in the |
changes which are taking place in the
city the wholesale establishments and |
the commission houses. which have for
years been about the Center market, will
have to be moved elsewhere. It is
thought there will be a clearing up OF
that locality of such q character as to
make it no longer possible for those &C.
tivities to be carried on there.
1t is by no means certain. however, that
It will be impossible, In the first place,
to keep the Center market where 1t is,
and. in the second place. whether that
would not be entirely I'm accord with act