Dulles Corridor Industrial Q2 2019

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Route 28 North Submarket (Dulles/Sterling)

  • RBA: 34,922,418 SF
  • Vacancy Rate: 3.6%
  • 12 Month Net Absorption: 2,400,000 SF
  • Average Asking Rent: $12.56
  • 12 Month Rent Growth: 4.0%

The Route 28 North industrial submarket is truly remarkable. With nearly 35 million square feet of industrial space (over 3 times the office inventory), Route 28 North is the largest industrial market in the DC metro area. Vacancy rates are at an astonishing 3.6% and even with 3.4 million square feet under construction at the end of 2018 demand should continue to keep pace with supply. In fact, there is around 7 times more construction underway than the next busiest submarket, a trend that is driven mainly by the area being home to Data Center Alley. Rent growth hit an astonishing 4% in the past 12 months and with Amazon and Google’s continued growth and need for server space, we can expect Route 28 North to continue to prosper.

Route 28 South Submarket (Chantilly/Centreville)

  • RBA: 11,727,092 SF
  • Vacancy Rate: 9.4%
  • 12 Month Net Absorption: 125,000 SF
  • Average Asking Rent: $12.82
  • 12 Month Rent Growth: 4.0%

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