Northern Virginia Industrial MarketView Q2 2017
•The largest leases signed in Q2 2017 were LaserShip’s 67,437-sq.-ft. lease at 3900 Stonecroft Boulevard (Route 28 South), Quince Imaging‘s 61,500-sq.-ft. lease at 22601 Davis Drive (Route 28 North), and Crane Service Company’s 34,268-sq.-ft. lease at 3900 Stonecroft Boulevard (Route 28 South).
•Warehouse vacancy rates in Prince William County remain below 2.5%, driving up developer confidence. FRP & Chalmers Property broke ground on 387,919 sq. ft. of product in Q2 2017.
•As of Q2 2017, only two existing competitive bulk properties could house a user greater than 100,000 sq. ft. in the entire Northern Virginia market (7619 Doane Drive and 7951 Angleton Court). Both properties were built before 1986 and have 22’ clear height.