• After great anticipation, Amazon’s decision to house half of its HQ2 in Crystal City—and the expected creation of 25,000 jobs and 4 million sq. ft. of office space demand—signals a significant impact on the region’s real estate markets and overall economy in the coming years.
  • Northern Virginia has experienced six consecutive quarters of occupancy gains—the longest stretch of growth since 2010—for a total of 1.2 million sq. ft. Subsequently, vacancy is down 60 basis points from its peak of 20.9% in 2017.
  • Investment sales volume ended the year at $2 billion. Foreign capital has become more active in the market, accounting for 33% of total investment activity in 2018, up from 14% and 15% in 2016 and 2017, respectively.