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Summit II. Photo by JB Smith

RESTON, VA–A handful of office buildings are under contract or in negotiations, sources tell us. This should not be surprising: Northern Virginia’s fundamentals are flourishing, a trend that is expected to continue thanks to the recent Defense-friendly budget deal.

Last year, Northern Virginia experienced job gains of 20, 500, which was down from the 32, 000 jobs added in 2016, Cushman & Wakefield noted in its Q4 report on the region. But, it added, NoVA accounted for all of the growth in financial sector employment in the Washington DC area — a total of 3,600 new jobs — and for two-thirds of the job growth in the professional and business services category with 9,200 jobs year-over-year.

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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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