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.