The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-06-04
BUSINESS PROPERTY
IN GREAT DEMAND
Available Realty of This
Class Not Sufficient for
Requirements.
CAPITAL SEEKING
SAFE INVESTMENT
Activity Extends Beyond Confines
of Northwest and Into
Other Sections.

There is more Of a demand for bust
ness property in Washington today
than there IS available property
This condition of the local realty.
which is said to be indicative Of plen-
tiful money and assured prosperity
has existed for some little time, says
a prominent realty broker. According
to him there has been a slight slump
in he ~olIing Of residence property
during the past week. principally be-
cause of the unreasonable weather,
but, on the other hand. there has been
a considerable gain in the purchase of
business property within the past six
weeks.
In declaring that the demand for
business property is greater than the
supply. this operator explained that
this does not by any means indicate
that there is no property Of this class
being offered for sale or standing by
awaiting q purchaser. but rather that
there is a scarcity of the kind that
is wanted by the prospective buyers
Purchases Made for Investment.
II is pointed out that a person gen
orally buys a business property solely
for an investment Sometimes IL IS
simply for a speculation; but in the
majority of cases it consists of an
outlay Of money with the object of
making II earn a safe return of from
5 TO per cent.
In this line money seeking invest
rnent first demands that every uortion
OF the property in question should
be able 20 earn a fair return upon the
total cost There should be no idle
or dead parts 10 the property. There
Is & good deal OF this kind on the mar
ket now, and the only remedy being
offered Is that of the additional ex-
pense Of remOdeling.
In this connection Il is pointed out
that making an extra investment on
the original COST OF the property ne
cessitates the charging of higher
rentals to bring the owner a reason
able return on his money, or, # the
high rental is not asked, IL means
that the property stands forth as o
poor investment.
Activity Greater Than Usual.
Operators dealing in business property
contend, however. that they never en-
5oyed more activity and prosperity IN
their particular line than they are hav-
ing at this time, and. furthermore, they
are satisfied that It VIII continue to
improve in the future. They, are con-
WINGED that the business Of the CAPITAL
Is growing at q rate in relative DrODOr-
ton 10 the other large cities throughout
the country, and they are counting on
the future to- a considerable extent
One OF the dealers, in speaking Of
business property, asserted that the
Guyers of this prOperty-those who are
simply seeking a safe investment for
their money-are not inclined TO look
10 the future. but rather to the present
For that reason a certain portion Of
this class OF property is now hanging
on the market
This dealer Is OF the opinion that the
day for the old style business premises
and stories in the downtown section, Is
past. The merchants. and business men
Of today, he declares, desire buildings
that are bright and attractive on the
exterior as well as on the interior; they
want more light and ventilation and all
the various recently invented modern
equipments for buildings.
Activity Extends to Other Sections.
More old business properties. he said,
have been remodeled or rebuilt In
Washington during the past two years
than during the ten years that preceded
that period.
Activity in business property is not
only being experienced in the so-caIIed
downtown section Of the northwest, but
the other business sections are getting
their share. The southwest has expert
Gnced some remarkable gains in the
building of business houses since the
completion Of the union station and the
tunnel in that section.
Pennsylvania avenue west OF Seven
teenth and in Georgetown has been the
scene OF some costly operations within
the past year, and in the northeast a
number Of new buildings for business
have been built, including the Southern
Railways offices In a short time d
large addition 10 that Office building
will be made
The section known as lexington also
Is in the line Of activity. The change in
the line of railroad tracks in that sec
ton has brought a number Of business
houses into ii and an association has
been formed to obtain the. construction
OF more.