Arlington, VA Office Overview
Arlington’s notable real estate scenes include the Ashton Heights, Bluemont, and Clarendon - Courthouse office submarkets. While Arlington has a population of just over 230,000 people, the city is part of the Washington metropolitan region, which is home to over 6 million residents. The economy of Arlington is driven in large part by federal, state, and local government creating a robust demand for white collar office employment in the metro area.
As of mid-2017, the Arlington county office market encompasses over 37 million square feet of existing office space in properties larger than 50,000 square feet. Due to the stability of government employment, the area historically boasts one of the lowest unemployment rates in the Northeastern United States.
Arlington, VA Office Inventory Description
Located in Northern Virginia and across the Potomac River from Washington D.C., Arlington is home to countless government agencies and R&D companies. As part of the Washington metropolitan area, Arlington helps to generate the area&s nearly $436 billion in annual gross metropolitan product. Nearly 70% of the office space in Arlington is Class A or A+, while Class B office space adds another 30% of inventory to the Arlington commercial real estate market.
Some of the strongest demand for Class A office space in Arlington comes from the Bluemont office submarket. Located at the junction of the Curtis Memorial Parkway and Route 120, the area is home to trophy office buildings such as The Regent, 800 North Glebe, and Three Ballston Plaza at 1100 North Glebe Road.
Arlington, VA Commercial Inventory Breakdown
Office Spaces
Total: 42,148,613 SF
By square footage range:
- 50k to 100k SF: 1,109,446 SF / 2.63% of total office
- 100k to 500k SF: 34,784,282 SF / 82.53% of total office
- 500k to 1M SF: 6,254,885 SF / 14.84% of total office
By class:
- Class A+: 1,097,000 SF / 2.6% of total office
- Class A: 23,678,355 SF / 56.18% of total office
- Class B: 13,931,660 SF / 33.05% of total office
Arlington, VA Green Office Space
Increasingly, both tenants and global investors are demanding energy efficient, green office space for their business and real estate portfolios. One example of a LEED certified office building in Arlington is Two Potomac Yard. Built in 2006, this 306,000-square- foot Class A office building is located in the Crystal City area of Arlington and was awarded the notoriously difficult-to- obtain LEED Platinum certification.
Every year, the National Green Building Adoption Index surveys major U.S. office markets, to measure the increase in green, energy-efficient office space. Looking only at office buildings larger than 50,000 square feet, by mid-2017 the amount of green office space in the major metro office markets had reached an average of 38%.
As part of the greater Washington D.C. metro area, Arlington makes its contribution to the 41% of large office buildings in the region that are LEED certified.
Arlington, VA's Top Office-Using Sectors
Government, healthcare, financial & professional services, and large corporate office users all create incredibly strong demand for Class A office space and commercial real estate in Arlington, VA.- Government – A number of federal agencies are headquartered in Arlington, including DARPA, the Drug Enforcement Agency, the National Science Foundation, the Transportation Security Administration, and the United States Department of Defense.
- Healthcare – This is one of the top office-using sectors in Arlington, including organizations such as the Virginia Hospital Center, National Science Foundation, and the Environmental Protection Agency.
- Financial & Professional Services – Demand for Class A office space in Arlington also comes from firms such as Deloitte, Accenture, Leidos, and Booz Allen Hamilton.
- Corporate Office – A significant amount of white collar employment is created by large companies headquartered in Arlington, such as Alcalde and Fay, Arlington Asset Investment, ESI International, FBR Capital Markets, and AES.
Arlington Demographics
Population
- Total Population229,534
- Male Population(49.8 %) 114,403
- Female Population(50.2 %) 115,131
- Median Age34.40
Income/Financial
- Average Household Income$145,577
- Median Household Income$112,138
- Median Income Under 25$65,261
- Median Income 25-44$112,759
- Median Income 45-64$137,604
- Median Income Over 65$80,274
News
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