Market Report

Each quarter, Edge provides comprehensive market reports in the Washington Metropolitan Area.

Washington Metropolitan Area Market Report

Q2 - 2022

Northern Virginia - Industrial/Flex

A lack of inventory in Northern Virginia combined with heavy demand for logistics, and data centers created the perfect storm for decade-low vacancies of 2.1% and 4.4% in industrial and flex space respectively.

Suburban Maryland - Industrial/Flex

Vacancies have remained steady in Suburban Maryland with mixed net absorption. These are some of the tightest vacancies recorded in the area which has motivated developers to reignite the pipeline.

CONTACT

Emiliano
Morales Flores
Market Research Analyst
emorales@edgecre.com
703.334.5631

Q1 - 2022

Northern Virginia - Office

Sublet space is still in the rise as firms further their “right-sizing”. Landlords on the other hand sweeten the pot through alternative concessions outside of lowering the face asking rents.

Suburban Maryland - Office

Unlike Northern Virginia where vacancies have stabilized, Suburban Maryland vacancies continue creeping up since the onset of the pandemic

Q2 - 2021

Northern Virginia - Office

Both vacancies and rents are at decade long highs in Northern Virginia. Covid-19 is still causing moveouts and downsizing as office users remain virtual. Construction is high, but not necessarily a source of risk.

Suburban Maryland - Office

Office buildings in suburban Maryland have seen rising vacancies over the past 12-18 months especially in B & C class space. Despite slow demand, year-over-year rent growth remains marginally positive in most areas.

District of Columbia - Office

Washington, D.C. office investors have suffered the brunt of the pandemic’s effect. The flight to quality that was ongoing before the pandemic had softened the market before employees switched their desks with their dining rooms.

Northern Virginia - Industrial/Flex

Demand for industrial space in Northern Virginia has driven rent growth far beyond historical norms. The e-commerce boom and data center expansion has paved the way for one of the tightest industrial markets on record.

Suburban Maryland - Industrial/Flex

Online retailers and logistics firms have required more industrial space over the past year than ever before. Flex space for bio-tech growth has also been in high demand. These conditions fueled explosive rent growths in Suburban Maryland.

CONTACT US

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Kyungmin LeeMarket Report