|
Market overview
Virginia Business
June 2004
Focus:
Northern Virginia
Despite vacancies, new construction continues with demand
ticking up in the industrial and flex office sectors,
fueled by expansion needs of moving and storage companies,
new distribution and service companies and government
contractors.
Northern
Virginia Inventory |
| |
Office |
Industrial |
Flex |
Retail |
| Inventory |
157* |
31* |
20* |
36* |
| Vacancy |
15% |
6% |
15% |
5.5% |
| *Square
feet in millions |
Northern
Virginia New Construction |
| |
Inventory* |
Construction* |
Growth
Rate |
Vacancy
Rate |
| Office |
157.0 |
6.0 |
4.2% |
15.0% |
| Retail |
36.0 |
0.4 |
1.1% |
5.5% |
| Industrial |
30.0 |
0.5 |
1.6% |
6.0% |
| Flex |
20.0 |
0.6 |
8.0% |
15.0% |
Dulles
Corridor and I-95 Industrial |
| |
2000 |
2001 |
2002 |
2003 |
2004 |
| Dulles
Corridor Market Total |
8,976 |
9,988 |
10,420 |
10,789 |
10,789 |
| I-95
Market Total |
20,142 |
20,142 |
20,158 |
20,158 |
20,158 |
| Dulles
Corridor Construction |
433 |
1,013 |
432 |
369 |
n/a |
| I-95
Construction |
0 |
0 |
16 |
0 |
0 |
| Note:
all figures in thousands |
Return to Virginia Business - June 2004
|
|
