The city has used to attract private companies willing to work with governmental agencies. Located just a few miles from Washington DC, the city offered an advantage of fast commute to and from the capital. With the BRAC resigning, the city has experienced a little bidding up of the vacancies rates, which have stabilized a few years later. Recently, much of the development activities in Arlington focused on the residential demands, yet these might soon be replaced with the office-designated spaces given the rise in requests for the modern and enlarged premises in the city. Arlington’s office space market is often considered in the realm of the Crystal-Herndon corridor, as all cities are related in terms of business and economic scope. As soon as Amazon has established its HQ2 in Virginia state, the demand for office space has tightened with more space being leased than built or otherwise supplied to the market. Tech tenants prefer to set up in London and Fairfax counties, though Arlington is also getting its share in this market. Meanwhile, the defense contractors that have been so inherent in the city are laying down their positions and have little influence over the market. The vacancy rates on the Arlington’s office space for rent market have increased over the last few years, setting up at the rate of 17%. Yet, the rate is still rather positive, given the peak of 21% in 2015 when a number of governmental agencies had moved out of the city.
