Springfield/Burke Submarket Q4 2018

Vacancies peaked at about 22% following a supply wave from 2011–13 and, despite a subtle recovery, are still extremely high. Rent growth has been weak as a result, and rents remain below the prerecession peak. On a bright note, the submarket experienced a big win when the GSA announced it was moving the Transportation Security Administration’s (TSA) headquarters to Springfield from Pentagon City, a move that will bring 3,400 employees to the submarket and help stabilize fundamentals. Sales have been relatively tame this cycle, with the exception of last year, when more than $63 million in volume recorded.

Please click on the links below for detailed information on leasing, rental rates, sales, etc.

Springfield-Burke Submarket

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