“Since our founding we have grown consistently
and prospered financially, and have survived through
many economic cycles. Our future is bright.”GEORGE F. MCKENZIE, PRESIDENT AND CEO
BALANCE, CONSISTENCY, FOCUS
From 1985 to 2005 the Washington region prospered, leading all metro areas in the U.S. in employment growth, median income and low unemployment. Home prices boomed, the new Wilson Bridge opened and WRIT acquired over 45 new properties totaling $1.5 billion during this decade. For someone who invested $10,000 in WRIT in 1971 and reinvested dividends, their initial stock purchase was worth $3.4 million as of December 2010.
- 2000
-
RECESSION OF 20000
-
WRIT achieved 68.1%
total return for the year -
2001 Annual Report
- 2001
-
2001 Annual Report
-
$10,000 invested in WRIT in 1971,
with dividends reinvested, is worth
$1,789,000 on December 31, 2001,
outperforming all the major indexes. -
Prosperity Medical Center
-
George W. Bush,
U.S. President2001–2009
- 2003
-
Began new medical office building sector
to expand diversification. - 2004
-
Rockville Town Square opens
- 2005
-
Over last twenty years,
the Washington DC region led
all metro areas in the country
in employment growth -
Acquired four new properties
for $145 millionPurchased one of the last remaining sites with
footage along the Dulles Toll RoadSigned leases for 1.7 million
commercial square feet -
- 2006
-
New span on
Wilson Bridge
opens -
Completed major renovation
of Shoppes of Foxchase
in Alexandria, VAFourteen new acquisitions
totaling $303 million82 properties
-
2440 M Street
-
2006 Annual Report
-
RECESSION OF 2007-2009
- 2007
-
DJIA closed at the record level of 14,164.53
-
Washington DC tops U.S. metro
regions in median incomeLowest unemployment rate
of all major metro regions -
WRIT stock hits all-time high
92 properties
Skip McKenzie was named
President and Chief Executive OfficerCompleted Dulles Station West –
a Class A office building in Herndon -
George “Skip” McKenzie
-
Dulles Station
- 2008
-
Subprime mortgage crisis
-
Congress passes the
Recovery Act and, by
year-end 2009, a total of
$12 billion is awarded to Maryland,
Virginia and Washington, D.C. to
stimulate the economy -
Barack Obama,
U.S. President2009–
- 2010
-
WRIT rings closing bell
on NYSE celebrating
50 years in business -
timeline color key
- WRIT HISTORY
- ECONOMIC DEVELOPMENT IN WASHINGTON DC & METRO AREA
- NATIONAL ECONOMIC/POLITICAL MILESTONES/EVENTS