To see a low resolution slideshow of pictures from the 2011 Annual Meeting Click here
On Tuesday, December 6, NAIOP Northern Virginia hosted their Annual Meeting and Luncheon featuring Steven Pearlstein of The Washington Post. As an associate editor and columnist for The Post, he focuses on economic and business issues. In 2008, he was recognized with a Pulitzer Prize for his writings on the global financial crisis. Earlier this year, Pearlstein was presented the Gerald Loeb Lifetime Achievement Award, which is one of the highest honors in journalism. In addition to his work with The Post, he is affiliated with George Mason University as a Clarence J. Robinson Professor of Public and International Affairs.
Steven Pearlstein
The Washington Post
Fairview Park Marriott
3111 Fairview Park Drive
Falls Church, Virginia 22042
NAIOP Northern Virginia members had the opportunity to meet with Jack Potter, who took over the leadership of the Metropolitan Washington Airports Authority in July. Now that Potter has had a few months to immerse himself in this position, it was good time for him to meet with the owners, developers and consultants who are the other part of the economic engine of the region. Potter provided an upDate on the activities at Reagan National and Washington Dulles, he also discussed the latest issues related to Dulles Rail. This was a fantastic opportunity for NAIOP and NAIOP members to introduce themselves to MWAAƫs new President and CEO and welcome him to Northern Virginia.
Cooley LLP
11951 Freedom Drive, Suite 1500
Reston, Virginia 22102
Speaker Presentation
Potter Presentation [13.3 MB]
To get new members involved in the chapter, NAIOP Northern Virginia has developed New Member Breakfasts. The Breakfasts are held throughout the year in March, July and November. These events are designed to provide new members with an overview of the association, and information on the opportunities that exist for further involvement in the Northern Virginia chapter. Chapter leadersship, including Chairman Brian Benninghoff, and Chairman-elect Dave Millard, were on hand to provide upDates on various chapter activities. Attendees received information and first-hand testimony on the value of membership in the following areas:
Brian Benninghoff, Buchanan Partners
Avi Fisher, Cassidy Turley
Brad Flickinger, CBRE, Inc.
Mark Hassinger, WestDulles Properties
Martha Marks, NAIOP Northern Virginia
Dave Millard, Avison Young
Reed Smith LLP
3110 Fairview Park Drive, Suite 1400
Falls Church, Virginia 22042
7:30 Registration and Breakfast
8:00 Program
The Board of Directors of NAIOP Northern Virginia hosted the 2011 Best of NAIOP Awards, the premier event for commercial real estate in Northern Virginia, on Thursday, November 17, 2011 at the Ritz?Carlton in Tysons Corner. Old and new business associates enjoyed a wonderful evening which culminated in the awarding of the best of the best for 2011 in commercial real estate. Focus on the Excellence was the theme as the evening highlighted the dedication of outstanding individuals and companies who contribute to the success of our region.
Awards Press Release
Transactions [3.4MB pdf]
Marketing[5.6MB pdf]
Interiors[5.6MB pdf]
Buildings[31MB pdf]
The Ritz-Carlton, Tysons Corner
1700 Tysons Boulevard
McLean, Virginia 22102
Reception - HITT Contracting Inc.
Centerpiece - Comstock Partners LLC
Dessert - TRINITY Group Construction, Inc.
Cordials - Metro Park / Clarion Partners
Red Wine - ECS Mid-Atlantic, LLC
White Wine - The JBG Companies
Door Prize Sponsor - Charron Consulting
Door Prize Sponsor - Duke Realty Corporation
Door Prize Sponsor - First Potomac Realty Trust
Door Prize Sponsor - McGuireWoods
Door Prize Sponsor - Vantage Construction Corporation
Event Sponsors
Avison Young
Baker Tilly
Balfour Beatty Construction
BB&T
Boston Properties
Bowman Consulting Group, Ltd.
Brandywine Realty Trust
Buchanan Partners, LLC
Cassidy Turley
CBRE, Inc.
christopher consultants
Cityline Partners LLC
Clarion Partners
Clark Construction Group, LLC
Cooley LLP
Cooper Carry
Corporate Office Properties Trust
Cushman & Wakefield of Virginia
DBI Architects, Inc.
Duke Realty Corporation
ECS Mid-Atlantic, LLC
First Potomac Realty Trust
HITT Contracting Inc.
Holland & Knight
The JBG Companies
L.F. Jennings, Inc.
Jones Lang LaSalle
McGuireWoods LLP
Monday Properties
MRP Realty
R.W. Murray Co.
Orr Partners
The Peterson Companies
Powers Brown Architecture
Prologis
Quadrangle Development Corporation
E.E. Reed Construction, L.P.
SIGAL Construction Corporation
Suffolk Construction Company
Tishman Speyer
TRINITY Group Construction, Inc.
Turner Construction Company
Vantage Construction Corporation
Vornado/Charles E. Smith
Washington Real Estate Investment Trust
Wells Fargo Bank, N.A.
WestDulles Properties, Inc.
Wetland Studies and Solutions, Inc.
Since 2007, there have been six major corporate national relocations in the United States, with five of those companies selecting Northern Virginia as their new headquarters.These are just the tip of the iceberg. During this same period there have been countless small and mid-size companies that have moved to Northern Virginia - including many companies that have relocated from Maryland and DC. The influx of new businesses has been impressive, but we are also seeing major companies which are currently based in Northern Virginia, such as Raytheon or Accenture, choosing to stay in Northern Virginia - often moving up to value and taking advantage of the market conditions. On Wednesday, October 26, a Panel of nationally-known experts looked at some of the major relocations both to Northern Virginia as well as within Northern Virginia, and discussed how continued development, transportation improvements, public policy and other factors will impact corporate relocations to the region. They also discussed the changes in office space requirements and what will be the trends for the future.
Jim Creedon, Executive Vice President, Leasing, Vornado
Jerry Gordon, President and CEO, Fairfax County Economic Development Authority
Matt Richardson, Global Head of Architecture, Design & Construction; Head of Real Estate, Hilton
Andy Shapiro, Managing Director, Biggins Lacy Shapiro & Company
Lois Zambo, Vice Chairman, Co-Branch Manager, Studley
Dennis Moyer, Director, Goulston & Storrs
McLean Hilton
McLean, Virginia
Thursday, October 13, NAIOP Northern Virginia hosted a Panel discussion on the new Merrifield. As one of Fairfax County's targeted Commercial Revitalization Districts, Merrifield is being redeveloped and redefined for the 21st century consumer, resident and worker.
With its central location in Northern Virginia and easy access, Merrifield is seeing major investment in retail, residential, office and mixed-used development. A new town center is already under construction and will be a thriving mixed-use area, attracting new residents to Merrifield while also supporting the surrounding existing neighborhoods. Transportation improvements to Gallows Road, Lee Highway and direct access to the HOT Lanes will further enhance the desirability of investments in Merrifield.
Barbara Byron, Director, Fairfax County Office of Community Revitalization and Reinvestment
Chad DuBeau, Vice President of Development, Mill Creek Residential Trust
Tom Kiler, LEED AP, Development Manager, Edens & Avant
Keith Summers, Regional Manager, PS Business Parks, Inc.
Janet Davis, Senior Vice President, Brandywine Realty Trust
Byron Presentation [5.6 MB]
DuBeau Presentation [2.2 MB]
Summers Presentation [2.4 MB]
Kiler Presentation [2.5 MB]
Wetland Studies and Solutions Aerials [7.6 MB]
PS Business Parks
2701 Prosperity Avenue, 4th Floor
Fairfax, Virginia
To see a low resolution slideshow of pictures from the 2011 VACRE Golf Tournament Click here
Golfers from the Commonwealth's commercial real estate industry spent a day networking and golfing at the famed Golden Horseshoe Golf Club in Williamsburg. Proceeds from the tournament will benefit the Commercial Development Political Action Committee (CDPAC), which was established by the Virginia Association for Commercial Real Estate in 2000.The CDPAC contributes to Virginia General Assembly candiDates who support issues related to economic development. In November, both the Senate and House of Delegates are up for election.Support the PAC that promotes candiDates who support issues which are beneficial to the future growth of the Commonwealth!
Golden Horseshoe Golf Club
Gold Course
Williamsburg, Virginia 23185
Closest to the Pin:
Hole #3: Ahmad Perry
Hole #7: Kevin Deloye
Hole #12: Oliver Way
Hole #16: Danny Keipe
Longest Drive: Kelly Holloman
First Place Net: Tom Keipe, Bob Roeser, Danny Keipe & Tommy Keipe
First Place Gross: Tony Beck, Ron Foresta, Nick Smith, Perry Frazer
Greater Richmond Association for Commercial Real Estate (GRACRE)
Hampton Roads Association for Commercial Real Estate (HRACRE)
NAIOP Northern Virginia
As of August 30, 2011
Lunch: First Potomac Realty Trust
Hospitality Station: The Peterson Companies
Putting Green: Dewberry
Driving Range: Dewberry
Beverage Station: Henderson Incorporated
Beverage Station: Burgess & Niple
Longest Drive: The Vectre Corporation
Closest to the Pin: Brandywine Realty Trust
Closest to the Pin: Balfour Beatty Construction
Closest to the Pin: DCMI Mid-Atlantic
Carts: Vornado/Charles E Smith
NAIOP Northern Virginia along with NAIOP Maryland/DC and NAIOP Maryland enjoyed an evening of networking and lobsters on the bank of the Potomac River at National Harbor. Foster's Downeast Clambake, a Maine tradition, provided an authentic lobster dinner with all the fixings. For those non-lobster lovers, steak or chicken dinner were on the menu. This was a great opportunity to visit with fellow NAIOP members from throughout the greater Washington and Baltimore region. It was an great evening under the tent at National Harbor. And those who made it to 9 PM were able to enjoy one of the few NAIOP events with fireworks!!
Foster's at National Harbor
National Harbor, Maryland
NAIOP Maryland/DC
NAIOP Northern Virginia
NAIOP Maryland
With a political environment that is constantly changing, NAIOP plays an important role in protecting your ability to do business. The ownership and development of property has become increasingly complicated and regulated. To be successful in this industry, it is important that you stay informed and current about the issues, and there are many. From TMDLs (Total Maximum Daily Loads) in the Chesapeake Bay Watershed to traffic management plans at the state level to energy plans at the local level, the industry is looking at greater regulatory restrictions and increased costs to own and develop property.
On Thursday, September 15, luncheon attendees found out what they need to know about the current issues facing the industry. Bob Murphy, a seasoned real estate entrepreneur whose company, MRP Realty, owns property throughout Northern Virginia, lead the discussion. Our Panelists were Aquiles Suarez, Vice President of Government Affairs for NAIOP Corporate, Phil Abraham, Legislative Counsel for the Virginia Association for Commercial Real Estate, and Ken Wire, Chairman of NAIOP Northern Virginia's Government Relations Committee.
Philip F. Abraham, Partner, The Vectre Corporation
Aquiles F. Suarez, Vice President for Government Affairs, NAIOP Corporate
Kenneth W. Wire, Associate, McGuireWoods LLP
Moderator
Robert J. Murphy, Managing Principal, MRP Realty
Members and those who work for a Member Company: $65.00
Non-members: $85.00
This event provided new members with an overview of the association, and information on the opportunities that exist for further involvement in the Northern Virginia chapter. Several leaders, including Chairman Brian Benninghoff (Buchanan Partners), Chairman-elect Dave Millard (Avison Young), Mark Hassinger (WestDulles Properties) and Brad Flickinger (CBRE), were on hand to provide upDates on various chapter activities. Attendees received information and first-hand testimony on the value of membership in the following areas:
CB Richard Ellis, Inc.
1861 International Drive, Suite 300
McLean, Virginia 22102
7:30 Registration and Breakfast
8:00 Program
2011 is passing quickly, the economy is improving and everyday there is news involving the commercial real estate industry. As we crossed into the second half of the year, it was time for NAIOP Northern Virginia's Mid-Year Forecast. On July 19, Washington Real Estate Investment Trust's Skip McKenzie moderated a Panel of sector experts about the trends that they see in the region. WRIT is celebrating its fiftieth year in business. It is the oldest REIT in the country, and one of the few engaged in all types of commercial real estate development and ownership. Panelists Marty Almquist of Avison Young covered the office market velocity; Caulley Deringer of Transwestern addressed the industrial/fex market; David Webb of Cassidy Turley discussed the multi-family housing industry; and Taylor Chess of The Peterson Companies provide us with the latest information on retail.
Marty Almquist, Principal, Avison Young
Taylor Chess, Senior Vice President, Retail, The Peterson Companies
Caulley Deringer, Executive Vice President, Transwestern
David Webb, Senior Managing Director, Structured Finance, Cassidy Turley
George "Skip" McKenzie, President & Chief Executive Officer, Washington Real Estate Investment Trust (WRIT)
"Skip" McKenzie, President & Chief Executive Officer, Washington Real Estate Investment sets the stage for a good discussion on the condition of the Northern Virginia Commercial Real Estate market."
Panel (l to r): Marty Almquist, Caulley Deringerr, Taylor Chess and David Webb, anxiously await the opportunity to speak about our reat market.
Melissa S. Peacor, County Executive, Prince William County
Martin J. Briley, Executive Director, Prince William County Economic Development
Wetland Studies and Solutions, Inc.
Tim Hemstreet, County Administrator, Loudoun County
Thomas Flynn, Director, Loudoun County Economic Development
TRINITY Group Construction
The Developing Leaders Committee hosted Networking 101, a program on making connections in the commercial real estate development industry. Attendees walked away with practical information on topics such as which type of events to attend to gain maximum networking benefit, how to meet the people you need to know, things to consider for presenting your best face, strategies for moving your network beyond business cards, and building meaningful business relationships.
David Millard, Principal, Avison Young
Barbara McDuffie, Director of Business Development, Baker Tilly
Jessica Miller, Director, Cushman & Wakefield of Virginia
Speakers PRESENTATION
Networking 101 Powerpoint Presentation
McGuireWoods
McLean, Virginia 22102
On Wednesday evening, June 15, the NAIOP Northern Virginia Developing Leaders and the Mason Center for Real Estate Entrepreneurship (CREE) hosted a networking reception and program at Founders Hall, the newest addition to Mason's Arlington campus. In addition to a presentation about the Mason Masters of Real Estate Development degree, there was also a presentation by the SmithGroup, the architect for Founders Hall.
This was a great opportunity to learn more about the CREE educational opportunities for current and future real estate professionals; see and to hear about the planning and design of the newest addition to Arlington's skyline; and network with others in commercial real estate.
Lori Cappuccio, AIA, LEED AP, SmithGroup
Mark Hassinger, WestDulles Properties
and Chairman, Center for Real Estate Entrepreneurship
Faisal Madi, Madi Group International
and George Mason MRED Graduate, 2011
David Varner, AIA, LEED AP, SmithGroup
Founders Hall, 134-Auditorium
George Mason University
3351 Fairfax Drive, Arlington
To see a low resolution slideshow of pictures from the NAIOP Spring Golf Tournament Click here
2nd Net
Deane Edelman
Mark Strandquist
Stan Gelbaugh
Steve Dunn
1st Net
Bill McCloud
Chirs Lukawski
Eric Hart
Rick Diana
Low Gross
Chris Ciliberti
Mark Duston
Tom Finan
Scott Frantz
Men's Longest Drive: Ron Taylor
Women's Longest Drive: Trish Jurgonis
Men's Closest to the Pin: Peter Burke
Women's Closest to Pin: Helen Lanes
First Potomac Mystery Hole: David Langol
3rd Net
Bruce Childs
Gary Modjeska
Gordon Fraley
Zac Vuncannon
2nd Net
Jim Crowder
Norm Corkhill
Rob Lowry
Tim Zulick
1st Net
Bob Gibbs
Chuck Claar
Jeff Parana
Scott Hallam
Low Gross
Brendan Guiseppe
John Guiseppe
Dan Hayes
Dave Kent
Men's Longest Drive: Bernie McKeever, Jr.
Women's Longest Drive: Lynn Goldberg
Men's Closest to the Pin: Kevin McCall
Women's Closest to Pin: Tara Connell
First Potomac Mystery Hole: Steven Peterson
Country Club of Fairfax
Morning Tournament
7:00am Registration & Breakfast
8:00am Tee-off
1:00pm Lunch & Awards
Afternoon Tournament
12:00pm Registration & Lunch
2:00pm Tee-off
7:00pm Dinner & Awards
Foursome is $1,100.
Each sponsorship includes: opportunity to reserve one foursome early, appropriate signage on the course and listing on our website at www.naiopva.org.
Dinner: Trammell Crow Company
Breakfast: ADI Construction
Hole in One: Tysons Metro Center I and Pohanka Lexus
Hospitality Stations: M.C. Dean, Inc. and Haynes Whaley Associates, Inc.
Driving Range: E.E. Reed Construction, L.P.
Putting Green: DBI Architects, Inc.
Beverage Station: L.F. Jennings, Inc.
Closest to the Pin Men: R.W. Murray Co.
Closest to the Pin Women: Walter L. Phillips
Longest Drive Men: Tishman Speyer
Longest Drive Women: SIGAL Construction Corporation
Cigars: SK & I Quorum
Carts: Brandywine Realty Trust
Golf Balls: Monday Properties
Mystery Hole Sponsor: First Potomac Realty Trust
Akridge
Bowman Consulting Group
Brookfield Office Properties
Cambridge
Cassidy Turley
Charm City Concierge
Clark Enterprises, Inc
DCMI Mid-Atlantic
ECS Mid-Atlantic
The Engineering Groupe
FORM Architects
Foulger Pratt
Hubert Construction, LLC
McLean Insurance Agency, Inc
Panattoni Development Company
rand* construction corporation
TD Bank, Commercial Real Estate
TRINITY Group Construction, Inc.
USAA Real Estate Company
Vantage Construction Corporation
Baker Tilly
Balfour Beatty Construction
Boston Properties
Brandywine Realty Trust
Cooley LLP
Corporate Office Properties Trust
Duke Realty Corporation
ING Real Estate
The JBG Companies
The Peterson Companies
ProLogis
Tishman Speyer
Vornado/Charles E. Smith
Wetland Studies and Solutions, Inc.
To see a low resolution slideshow of pictures from the 2011 NAIOP Bus Tour Click here
Full size originals can be ordered, FOR FREE, from Mattox Photography. Mattox has been taking pictures of NAIOP functions for close to THREE DECADES. And in celebration of that they are offering pictures for this event for FREE. If you need photos taken call Mattox, with over 45 years of experience covering the Metropolitan real estate market. Click here to order prints from Mattox Photography.The nationally acclaimed NAIOP Northern Virginia Bus Tour was held on Thursday, May 5, 2011.
The 2011 Tour was the Inside and Around the Beltway version - focused on the Alexandria, Arlington, Falls Church and eastern Fairfax County. The tour looked at the submarkets of Rosslyn-Ballston Corridor, Crystal City, I-395/Skyline, Springfield, Carlyle, Potomac Yard and Fairview Park. Office and industrial projects, new construction, site plan approved projects, and major blocks of new or relet space of 30,000 contiguous square feet or more were highlighted on the tour.
The NAIOP Northern Virginia Bus Tour is not only the premier Bus Tour covering all of Northern Virginia but it is also recognized as one of the most successful commercial real estate bus tours in the United States, thanks to the great work of our members. Once again, the Bus Tour SOLD OUT!! with over 500 bus riders and over 620 trade show participants.
Virginia Tech Research Center - Arlington
900 North Glebe Road
Arlington, Virginia 22203
7:30 a.m. Registration
7:30 a.m. Trade Show and Breakfast
10:00 a.m. Buses Depart
Noon Lunch
Lunch in Alexandria, Virginia, hosted by Alexandria Economic Development Partnership, Inc.
3:00 p.m. Buses Return
3:00 p.m. Reception
Sponsored by Arlington Economic Development and Arlington Real Estate Group
For the past three years, NAIOP Northern Virginia members have worked with representatives of George Mason University to create the Center for Real Estate Entrepreneurship (CREE), a project initiated by our chapter. In addition to a Master's degree, Mason will also offer certificates in various real estate related topics.
In an effort to promote the new real estate related programming offered by Mason, NAIOP members, who are directly involved in the Mason CREE program, have been hosting box lunches in their offices. Our hosts from The Peterson Companies were joined by Mark Hassinger (WestDulles Properties, Inc.), and several officials from Mason who provided information about the educational opportunities offered at Mason through the Center for Real Estate Entrepreneurship.
For additional information about the MRED, please click on GMU MRED
The Peterson Companies
12500 Fair Lakes Circle, Suite 400
Fairfax, Virginia 22033-3804
In an effort to enhance the experience of new members of NAIOP Northern Virginia, the Membership Committee hosted new members at a New Member Mixer hosted by member company Balfour Beatty.
This event provided new members with an overview of our chapter as well as the opportunities that exist for further involvement. Several of Board members were on hand to inform new members about various chapter activities, including legislative and government relations efforts, our networking opportunities and special functions, and the relationship with NAIOP Corporate and the Virginia Association for Commercial Real Estate (VACRE).
Balfour Beatty Construction, 11325 Random Hills Road, Suite 500, Fairfax, VA 22030
New Member Orientation included (l to r) Barbara McDuffie, Brad Flickinger, Brian Benninghoff and Dave Millard
The healthcare market is staying strong in difficult times and is a focus for many in commercial real estate. Our Panel discussed trends in the healthcare marketplace; looked at real estate opportunities and challenges; and examined the drivers for decisions. The market is becoming more complex as methods of delivery, technology demands, and regulatory issues impact healthcare providers and developers. Attendees heard from a range of influencers and stakeholders on the current state of healthcare real estate and the directions for the future.
Linda Broyhill, Counsel, Reed Smith LLP
Dan Moore, Principal, Healthcare Market Sector, Perkins+Will
Nick Raico, Vice President, Healthcare, HITT Contracting
Patrick Walters, Senior Vice President, Strategic Planning and System Development, INOVA
Moderator
Ed Trn, Vice President, Healthcare Development, Duke Realty
On March 16, THE GWCAR REAL ESTATE SUMMIT featured a A Conversation with Steve Roth and Sam Zell. The program was held in cooperation with NAIOP Maryland/DC, NAIOP Northern Virginia, DCBIA, The Real Estate Group, and CREW DC.
March 16, 2011
Warner Theater, 1299 Pennsylvania Avenue NW, Washington, DC 20004
On March 10, NAIOP Northern Virginia hosted a distinguished Panel of experts who reviewed the dynamic and new mixed-use and urban retail opportunities in and around Tysons Corner, Reston and throughout the Dulles Corridor as part of the rezoning and re-planning associated with Rail to Dulles.
Antonio J. Calabrese, Partner, Cooley LLP
Grant M. Ehat, Principal, JBG Rosenfeld Retail
Rick Fernandez, Managing Director, Calkain Urban Investment Advisors
Michael R. Zacharia, Senior Vice President, CB Richard Ellis, Retail Services
They discussed the new zoning/regulatory policy for developing retail in Tysons, Reston and throughout the Dulles Corridor, creative mixed-use development strategies, national tenants that are targeting our region, and how to capitalize on these important opportunities.
Our Panelists offered unique insights on how to set your project apart and maximize your return. This was an unprecedented opportunity to learn how to successfully implement the new directive being issued by many, local jurisdictions - creating desirable, transit-oriented, mixed use environments, with street-level retail.
Antonio Calabrese Presentation. (6 MB PDF)
Michael R. Zacharia Presentation. (7 MB PDF)
Grant Ehat Presentation. (3 MB PDF)
Rick Fernandez Presentation.
Brad Flickinger, Senior Managing Director, CB Richard Ellis, focused on the regional commercial leasing and sales markets. Flickinger is responsible for the Northern Virginia and Suburban Maryland offices where he oversees more than 130 employees and sales professionals across a wide variety of service lines including office and industrial leasing and tenant representation; multi-family, office and industrial investment sales; retail leasing and tenant representation; land sales; valuation and corporate services.
Christopher Lee, President and CEO, CEL & Associates, Inc., provided a national prospective and explained why he predicts Northern Virginia will be the fourth best region in the United States for job growth during the next twenty years. CEL & Associates works with over 500 clients in the United States, Canada and Europe, providing advice, guidance, data, forecasts, insights and predictions which have become integral components in the 24/7 business operations of its clients. Mr. Lee publishes 'Strategic Advantage: Real Estate Strategies, Insights & Forecasts.' CEL & Associates is also well known for its National Real Estate "A List" Awards For Service Excellence which are awarded to real estate property companies that provide a superior level of service.
Christopher Lee, President and CEO, CEL & Associates
Bradley C. Flickinger, Senior Managing Director, CBRE
Brad Flickinger Presentation. (4 MB PDF)
For a copy of Christopher Lee's presentation please email him at chris (at )celassociates (dot) com and request the NAIOP Northern Virginia presentation.
Brad Flickinger (left) and Christopher Lee (right) discuss questions raised by the audience at the NAIOP Northern Virginia 2011 Annual Forecast.