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Forecast: 2017 Will Be NoVa’s Best Year of Office Occupancy Gains Since 2010

ARLINGTON, VA--Nestlé USA’s decision to relocate its corporate headquarters to 1812 N Moore St., in Rosslyn will add 206,000 square feet of positive absorption.

Nestlé's relocation to 1812 N Moore St. will add 206,000 SF of absorption Nestlé’s relocation to 1812 N Moore St. will add 206,000 SF of absorption

ARLINGTON, VA–JLL is predicting that Northern Virginia’s office market will see at least half a million square feet in occupancy gains this year, in large part because it believes that the five-year decline in government contractor awards has begun to reverse in earnest.

By itself this is a significant development, as government contractors account for more than 50% of Northern Virginia’s office tenant base, Research Director Scott Homa tells GlobeSt.com.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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