Loudoun & Prince William Office Update August 2025

Posted on by Ryan Rauner, CCIM

Loudoun County: The Tech-Savvy Wild Card on DC’s Fringe

Loudoun County, clocking in at around 22.7 million square feet of office space, is like the energetic upstart crashing the DC metro party—fueled by data centers, aerospace buzz, and proximity to Dulles Airport, it’s got that “next big thing” energy. Vacancy averages a manageable 8.5% (up slightly YOY but miles below the region’s 20.1%), with availability around 9%. Absorption’s a mixed bag: -44,200 SF in some areas, but positive elsewhere, netting mild negativity amid hybrid work and federal trims. Rents hover at $29-31/SF with 0.8-1.7% growth—affordable allure drawing defense contractors and cloud giants. Construction? Zilch underway, but proposals tease ~1.1 million SF, eyeing mixed-use vibes. Sales zipped to ~$130 million over ~900,000 SF ($144/SF average), cap rates ~10%, with smaller deals dominating. Ownership: Balanced between private (50%) and institutional (35%), heavy on tech players like AWS. Economy: 1.5% job growth from innovation hubs, but D.G.E. cuts could zap federal-dependent roles. Outlook: Thrilling potential as Loudoun morphs into a live-work-tech oasis; short-term hiccups from remote trends, long-term fireworks if infrastructure like Metro extensions ignite—imagine Virginia’s Silicon Vineyard hitting its stride.
Route 7 Corridor – This 4.1 million SF lifeline to Dulles is the bustling highway of opportunity—vacancy 8.1% (down 0.5% YOY, a win!), absorption +19,400 SF. Rents $31/SF up 0.8%. Under construction: 97,000 SF; proposed 40,000 SF. Sales $19.9 million over 140,000 SF ($142/SF).
Route 28 North – Spanning 9.0 million SF, it’s the data powerhouse corridor—vacancy 11.6% (up 0.2%), absorption -19,900 SF. Rents $28/SF with 1.4% growth. Proposed 974,141 SF, no current builds. Sales $28.8 million over 620,000 SF ($46/SF—deal-hunters’ paradise).
Combined – Approximately 13.1 million SF, vacancy ~10%, absorption -500 SF net. Rents ~$29.5/SF. Proposed ~1.01 million SF. Sales $48.7 million ($69/SF average). These routes are the adrenaline rush: Route 7’s connectivity sparks quick wins, Route 28’s data farms promise scale. Outlook: Electric if tech booms; but watch for speed bumps from over-reliance on cloud kings—could be the fast lane to fortune or a detour if AI hype cools.
Leesburg/West Loudoun – Out west in this 4.0 million SF slice, it’s the pastoral escape with urban edge—vacancy 5.7% (up 1.1%, still a regional envy), availability 7.3%, absorption -44,200 SF. Rents $29/SF climbing 1.7%. Proposed 78,850 SF at Hirsi Rd (three buildings starting Nov 2025). Sales $30.3 million over 140,000 SF ($216/SF). It’s the wine-country office haven, luring healthcare and small biz with charm and costs. Outlook: Cozy resilience shines; negative absorption a bump in the scenic road, but tourism and remote appeal could pour in growth—think cubicles with a side of cabernet, unless federal ripples sour the vintage.

Prince William County: The Value-Packed Sleeper Hit

Prince William’s ~5.9 million SF feels like the underrated underdog—scrappy, affordable, and punching above its weight with vacancy at a rock-bottom 3-4.5% (down YOY, crushing the metro’s 20.1%). Absorption glows positive at +79,600 SF, defying regional gloom. Rents $28-29/SF with 1.3-1.8% upticks—bargain central for defense, logistics, and growing e-commerce plays. No builds humming, but proposals hint at 144,000 SF. Sales ~$28 million over ~260,000 SF ($108/SF), cap rates 10%. Ownership private-led (60%), local roots strong. Economy: 1.2% job surge from Quantico and warehouses. Outlook: A feel-good story of stability; low metrics shield from storms, with VRE expansions as potential accelerators—could evolve from hidden gem to hotspot if metro refugees flock south, though federal axes might nick the momentum.
Route 29/I-66 – 3.3 million SF of commuter-friendly turf—vacancy 4.5% (down 1.9%—impressive!), absorption +62,700 SF. Rents $29/SF up 1.3%. No construction/deliveries. Sales $14 million over 130,000 SF ($108/SF). Active spots like 12811 Randolph Ridge show strong leasing.
Manassas – 2.6 million SF urban core—vacancy 2.8% (down 0.6%), absorption +16,900 SF. Rents $28/SF with 1.8% growth. Proposed 144,000 SF at Cannon Landing (starting Dec 2025). Sales $14 million over 130,000 SF ($108/SF).
Combined – Approximately 5.9 million SF, vacancy ~3.65%, absorption +79,600 SF. Rents ~$28.5/SF. Proposed 144,000 SF. Sales $28 million ($108/SF). Route 29/I-66’s accessibility pairs with Manassas’ grit for a dynamic duo—think logistics hubs meeting defense needs. Outlook: Keep the wins coming; value draws crowds, but watch for spillover from D.C. cuts—primed to be the affordable powerhouse if infrastructure revs up.

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