The Northern Virginia commercial real estate market saw 1.6 million square feet of office space occupancy gains in the second quarter, but Amazon’s HQ2, which opened in June to employees, accounted for 2.1 million square feet as employees moved into its Met Park campus in National Landing.
Excluding Amazon’s contribution, the Northern Virginia region would have seen an occupancy loss of 400,000 square feet, according to a report from commercial real estate firm JLL.
It was a slow quarter for new development delivering in Northern Virginia. Herndon saw the largest net occupancy loss last quarter with Volkswagen relocating its North American headquarters to Woodland Pointe to Reston Town Center.
There’s also less new development coming online.
Click here to read the rest of the article written by Jeff Clabaugh over at WTOP
