real estate report - Fairfax County Economic Development Authority

Transcription

real estate report - Fairfax County Economic Development Authority
YEAREND 2010
REAL ESTATE REPORT
FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY AT A GLANCE
(SECOND HALF 2010)
Office Market
Inventory
Vacancy Rates
Direct
w/Sublet
Absorption
Gross
Relet
Sublet
New
Planned
Construction
Delivered
Demolished
113,191,835 s.f.
13.3% ▼
15.3% ▼
8,412,304 s.f.
7,444,734 s.f.
320,390 s.f.
566,819 s.f.
80,361 s.f.
175,000 s.f.
166,100 s.f.
—
Industrial/Flex Market
Inventory
38,884,683 s.f.
Vacancy Rates
Direct
12.9% ▲
w/Sublet:
14.0% ▲
Absorption
Gross
1,422,924 s.f.
Relet
1,272,079 s.f.
Sublet
56,168 s.f.
New
94,677 s.f.
Under Construction 30,000 s.f.
Construction
87,600 s.f.
Delivered
131,306 s.f.
Demolished
25,200 s.f.
INSIDE
Office Market
Leasing activity
Construction activity
Building sales
Submarket trends
Commercial
Condominium Market
Industrial/Flex Market
Leasing activity
Construction activity
Building sales
Submarket trends
Using This Report
Glossary and Map
2–10
11
12
13
14
16–19
20
20
21
22
www.fairfaxcountyeda.org/commercial-real-estate
OVERVIEW
The commercial office market in Fairfax County displayed all the signs of a slow but steady recovery
during 2010. The direct vacancy rate closed out the year at 13.3 percent, down from 14.0 percent at
yearend 2009. During the same period, the overall vacancy rate dipped to 15.3 percent after hitting a
seven-year high of 16.4 percent the previous year.
Demand for office space reached record levels in 2010. Absorption for the year neared 13.6 million
square feet (s.f.), topping the previous record of 12.7 million s.f. recorded during the height of the IT/
telecom boom in 2000. Leasing activity during the last half of the year alone totaled more than 8.4
million s.f., a record six-month total for the county.
New construction activity remained stagnant during the second half of the year. At the close of
2010, there were only two new office buildings totaling 175,000 s.f. under construction. New office
deliveries hit a seven-year low of just under 700,000 s.f. in five buildings for the entire year. All five
buildings that delivered during the year were build-to-suit projects.
Commercial office sales activity experienced a huge increase during the last half of 2010. After
two straight years of flagging office sales, activity increased dramatically. During the last half of the
year alone, 47 buildings changed ownership, bringing the yearend total to 69 transactions. The
West*Group portfolio sale drove the majority of office sales for the year. The 22-building deal
totaled more than 1.8 million s.f. of office space in West*Park and West*Gate, both in Tysons Corner.
KEY TRANSACTIONS
Large-scale deals drove the market in 2010. There were 18 lease transactions of more than 100,000
s.f. during 2010, up from 13 the previous year. The four largest deals during the last half of the
year totaled more than 2 million s.f. The two most significant deals were both related to events
surrounding the latest round of Base Realignment and Closure (BRAC). The largest deal of the year
involved MEDCOM, the U.S. Army Medical Command, which relocated and consolidated operations
in Merrifield. MEDCOM backfilled a 700,000-square-foot facility that was vacated by Raytheon. The
Defense Intelligence Agency inked the second largest deal of the year, taking down 523,000 s.f. of
highly secured space in Reston. Previously, the two buildings served as the home to the National
Geospatial-Intelligence Agency, which will occupy its new 2.4 million-square-foot headquarters
facility at Fort Belvoir in September 2011.
The number of large blocks of contiguous space remained relatively unchanged at the close of
the year. There were 57 blocks of space with 50,000 s.f. or more of contiguous space at yearend
compared to 58 at midyear. There are 23 options available for companies looking for space of more
than 100,000 s.f., but only two potential buildings with space in excess of 200,000 s.f. The majority
of large blocks of space are located in the Reston and Tysons Corner submarkets, which account for
more than 56 percent of all large blocks. It’s important to note that a number of the large blocks in
the Tysons Corner submarket are older buildings that are slated for redevelopment in the near future
as part of larger mixed-use projects planned around the new Metrorail Silver Line.
CONTINUES ON PAGE 3
The Fairfax County Economic Development Authority (FCEDA) promotes Fairfax County as one of the world’s best business locations. The FCEDA’s free services can
help you take advantage of the unlimited possibilities in Fairfax County. We have comprehensive, up-to-date data on labor force trends, taxes, utilities, real estate,
housing and meeting accommodations—along with scores of other facts and figures to help businesses grow and prosper. We can help you locate the perfect office
or industrial space for your new or growing business. If you need help understanding the county’s regulatory and zoning policies and procedures, we can help there,
too. If you or your clients are interested in locating, relocating or expanding your business operation in Fairfax County, inquire in strict confidence to the Fairfax
County Economic Development Authority, 8300 Boone Boulevard, Suite 450, Vienna, Virginia 22182-2633 USA; phone: 703-790-0600; e-mail: info@fceda.org.
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Countywide Office Space Trends: 1980–2010 (Square Feet)
1
2
Year
Direct
Standing
Inventory
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
20,567,000
27,900,000
30,750,000
32,100,000
35,100,000
42,800,000
48,700,000
53,616,000
58,073,000
63,575,000
67,139,000
72,702,000
73,056,000
74,397,000
75,562,432
76,074,620
78,265,573
79,617,676
82,088,287
88,375,053
93,563,753
97,602,908
100,912,347
101,507,385
102,117,697
103,520,646
105,054,801
107,232,650
111,189,301
112,556,702
113,191,835
Vacancy
Rate (%)
1.7
2.9
4.5
2.9
7.3
9.4
9.4
8.8
10.8
15.2
18.3
16.8
14.8
12.4
9.9
8.5
6.2
4.3
4.1
4.8
3.5
6.4
12.1
11.2
8.6
7.8
7.7
9.2
12.1
14.0
13.3
Total
Leased
New
Leased
Relet
Leased
Total Direct
Available
New
Available
1,400,000
2,623,579
2,639,313
2,312,379
3,318,178
5,107,357
5,889,741
5,475,880
5,014,401
5,973,710
5,006,377
5,535,950
4,854,778
5,272,604
6,306,117
5,261,893
7,040,085
6,196,885
6,991,158
9,264,808
12,750,968
5,174,234
7,648,790
10,570,315
10,969,819
9,659,060
10,805,683
9,382,013
9,976,277
10,330,158
13,586,158
N/A
1,486,919
1,193,946
1,414,951
1,706,050
3,719,570
3,908,799
3,651,588
3,046,598
3,224,384
2,202,932
2,374,087
1,433,064
1,393,415
1,290,152
498,137
1,316,827
1,959,447
3,810,783
5,910,855
6,918,762
2,606,024
1,022,910
1,788,402
1,762,757
537,974
2,249,866
1,378,208
1,808,055
1,162,887
1,317,120
N/A
146,046
451,186
360,211
562,293
440,487
339,682
942,557
1,004,913
1,353,114
2,424,145
3,141,863
3,421,714
3,879,189
5,015,965
4,763,756
5,723,258
4,237,438
3,180,375
3,353,953
5,832,206
2,568,210
2,631,385
4,898,701
6,028,830
5,920,239
7,569,360
6,832,122
7,146,620
8,425,631
11,590,346
343,086
810,950
1,374,534
933,012
2,558,566
4,036,662
4,555,065
4,701,055
6,263,547
9,645,834
12,255,516
12,185,419
10,788,508
9,201,590
7,490,605
6,458,580
4,908,932
3,390,293
3,392,909
4,238,492
3,236,371
6,281,688
12,176,938
11,393,801
8,764,801
8,054,510
8,115,057
9,857,339
13,422,946
15,723,157
15,091,196
279,539
439,406
866,906
366,792
2,018,716
3,283,319
3,119,637
3,087,638
3,818,738
4,227,527
5,118,433
3,829,149
2,652,612
1,409,847
651,098
308,062
77,775
19,177
531,855
1,340,336
1,007,213
2,312,291
3,291,394
1,870,915
919,191
1,053,457
1,155,235
2,164,415
3,419,220
3,076,675
1,926,139
Relet
Available
63,547
371,544
507,628
566,220
539,850
753,343
1,435,428
1,613,417
2,444,809
5,418,307
7,137,083
8,356,270
8,135,896
7,791,743
6,839,507
6,150,518
4,831,157
3,371,116
2,861,054
2,898,156
2,229,158
3,969,397
8,885,544
9,522,886
7,845,610
7,001,053
6,959,822
7,692,924
10,003,726
12,646,482
13,165,057
Includes inventory outside submarket areas, 1980-2000 only.
ln some years, total leasing reflects the preleasing of buildings under construction and about to be constructed, as well as new and relet space.
Countywide Office Space Inventory and Vacancy Rates: 1980–2010
Vacancy Rate
Sq. Ft.
Vacancy rate includes sublet space (figures available for 2001–2010 only)
120 million
20%
100 million
15%
80 million
60 million
10%
40 million
5%
2 Real Estate Report—Yearend 2010
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
0
1980
20 million
0%
© Fairfax County Economic Development Authority
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Large Blocks of Available Office Space (s.f.)
Large Blocks of Available Office Space by Submarket
(Number of Blocks Available by Reporting Period)
(Second Half 2010)
80
36
80
70
60
50,000–99,999 s.f.
100,000–199,999 s.f.
200,000+ s.f.
62
28
56
26
50
40
30
45
26
36
29
26
20
5
8
4
4
34
19
64
34
9
3
62
37
Herndon
57
34
Merrifield 1 1 1
3 1 1
Dulles
23
19
7
3
6
3
2
11
Reston
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
(Square Feet)
3
Tysons Corner
2
Top 10 Office Lease Deals – Second Half 2010
4 1 1
Chantilly
21
14
1
2
Fairfax Center / Oakton
41
18
20
15
10
0
36
24
50,000–99,999 s.f.
100,000–149,999 s.f.
150,000–199,999 s.f.
200,000+ s.f.
Springfield/Franconia 1
10
0
5
10
2
2
5 1 1
15
20
Historic Office Gross Leasing Activity: 1985–2010
Sq. Ft.
U.S. Army MEDCOM / Merrifield
668,285
Defense Intelligence Agency / Reston
Booz Allen Hamilton / Tysons Corner
463,225
Northrop Grumman / Merrifield
CSC / Chantilly
Verisign / Reston
15 mil
523,482
13.6 mil
12 mil
358,898
257,485
9 mil
221,326
CGI / Fairfax Center 192,000
6 mil
Lockheed Martin / Dulles 189,764
Scitor / Reston 170,000
3 mil
0
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
Deltek / Dulles 157,911
CONTINUED FROM PAGE 1
FORECAST
On a national level, there is an air of cautious optimism in regards to the commercial office market for the coming year. Investors and
developers are still somewhat uncertain about the financial markets and express concerns about another potential wave of commercial
defaults. On the local level, the Fairfax County commercial office market rebounded following three consecutive years of decline. Vacancy
rates are expected to continue to decrease through the end of 2011 barring any major any major upheavals in the national financial
markets. The decrease will be driven in large part by the lack of any new office product scheduled for delivery over the next 18 months in
conjunction with sustained demand for office space.
Demand for office space in the county has been solid over the past five years. Even in the face of a very volatile national economy, this isn’t
expected to change. Overall office absorption was exceptionally strong in 2010 due largely to a number of transactions that topped 200,000
square feet (s.f.). Leasing activity for the coming year isn’t expected to reach the record 2010 totals. However, demand should remain
strong enough to easily sustain the 9.8 million-square-foot average that has been the norm for the past 10 years.
For the past three years, the overwhelming majority of new construction has been build-to-suit in nature. This trend is expected to change
during 2011. Over the past 16 months, commercial projects submitted to the county have increased in the submarkets in and around the
new Metro Silver Line running along the Dulles Toll Road to Washington Dulles International Airport, as well as the areas surrounding the
BRAC developments in the southeast portion of the county. Developers have been taking a wait-and-see approach to new speculative
development. However, these two large-scale projects are expected to spin off millions of square feet of new office and mixed-use
development to support the increased employment base these projects are certain to generate.
© Fairfax County Economic Development Authority Real Estate Report—Yearend 2010 3
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Office Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
ANNANDALE
AGM College Planning Group
The 7700 Building
Best Care Home Help Agency
Central Title
Heritage Center 1
Children’s Medical Associates of Northern Virginia
Beauregard Square A
Comtex Software
U.S. Premier Federal Credit Union
Data Base LAN Solutions
Springfield Professional Center 2
Hanger Prosthetics & Orthotics
Beauregard Square A
Loch Harbour Group, LLC
Beauregard Square A
Mark Computer Training
Beauregard Square A
Northern Virginia Community College
Annandale Center 2
Power Academy, Inc.
G.H.A. Building
Professional Healthcare Resources, Inc.
Heritage Center IV
Return on Investment
Heritage Office Building
South Baylo University
West Annandale Building
The Acupuncture Group
Annandale Center 1
WNP Global, Inc.
Evergreen Office Condos
Young’s Athletic Club
Dooho Building
7700Little River Turnpike
4115Annandale Road
7617Little River Turnpike
6303Little River Turnpike
6462Little River Turnpike
5035-5053Backlick Road
6303Little River Turnpike
6303Little River Turnpike
6303Little River Turnpike
7630Little River Turnpike
7601Little River Turnpike
7619Little River Turnpike
7857A-EHeritage Drive
7535Little River Turnpike
7620Little River Turnpike
6930-6936Evergreen Lane
7306-7314Maple Avenue
1,666
1,610
1,717
8,451
3,500
2,900
2,380
2,967
1,969
3,627
1,600
14,914
3,115
5,428
2,457
1,200
1,365
BAILEYS CROSSROADS
Apptis
Booz Allen Hamilton
Bright Horizons Childcare
Cerner Corporation
Department of Defense
Dynamics Research
GSA Health Affairs
Irving Burton Associates, Inc.
Katlesar Boutique
Netstar-1, Inc.
Netstar-1, Inc.
SAIC
SAIC
One Skyline Place
Three Skyline Place
Two Skyline Place
One Skyline Place
Four Skyline Place
Four Skyline Place
Four Skyline Place
Two Skyline Place
Lacy Square
Five Skyline Place
One Skyline Place
Five Skyline Place
Six Skyline Place
5205Leesburg Pike
5201Leesburg Pike
5203Leesburg Pike
5205Leesburg Pike
5113Leesburg Pike
5113Leesburg Pike
5113Leesburg Pike
5203Leesburg Pike
5981-5985Columbia Pike
5111Leesburg Pike
5205Leesburg Pike
5111Leesburg Pike
5109Leesburg Pike
3,125
35,513
12,283
1,291
50,229
2,978
8,507
17,737
1,000
11,820
6,391
20,371
3,100
BURKE
Atlantic Settlement Group
Marine Corps Recruiting
Spider Smart Center
Patriot Square
Patriot Square
Rolling Valley Professional Center
10505-10511Braddock Road
10505-10511Braddock Road
6501-6507Sydenstricker Road
1,575
1,259
1,040
CENTREVILLE
Carfax
Chris Kim Interiors
Cobham Analytic Solutions
International Development Resources
KH Enterprises, Inc.
Lockheed Martin
Power Academy, Inc.
SeiCorp
South Baylo University
Travel Concepts
Western Fairfax Christian Ministries
Yeon Rhee
Trinity Centre 2
Centrelee Building 2
Trinity Centre 2
Centrelee Building 4
Centrelee Building 3
Trinity Centre 2
Centrelee Building 3
Trinity Centre 1
Redwood Square Center
Trinity Centre 4
Centrelee Building 2
Centre Square
5860Trinity Parkway
14631Lee Highway
5860Trinity Parkway
14641Lee Highway
14637Lee Highway
5860Trinity Parkway
14637Lee Highway
5870Trinity Parkway
6101Redwood Square Circle
5875Trinity Parkway
14631Lee Highway
5713-5731Centre Square Drive
77,620
1,180
26,083
1,128
1,008
6,971
1,160
2,881
1,841
1,903
1,674
1,050
CHANTILLY
3Delta Systems, Inc.
Aetna
American Systems Corporation
AOC-KSI
Booz Allen Hamilton
Booz Allen Hamilton
CACI International Cavalier Land Development Company
Centurion Research
CSC
ElanTech Systems
Federal Bureau of Investigation
4 Real Estate Report—Yearend 2010
Glenview I
Glenview II
Meadow Point
Albemarle Point Building 1
Meadow Point
Meadow Point
Commonwealth Center 2
Glenbrook 3
ParkEast Corporate Center 2
Washington Technology Park 1
Penrose Center
Commonwealth Center Building 3
14151Newbrook Drive
14155Newbrook Drive
14151Park Meadow Drive
14420Albemarle Point Place
14151Park Meadow Drive
14151Park Meadow Drive
14360Newbrook Drive
14160Newbrook Drive
14008-14048Parkeast Circle
15000Conference Center Drive
14425Penrose Place
14360Newbrook Drive
20,000
50,335
7,327
4,117
16,451
7,567
29,682
3,003
27,468
257,485
7,798
63,515
© Fairfax County Economic Development Authority
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Office Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
CHANTILLY, continued
First American Title
Four Points Technology
Great Circle Technologies, Inc.
Harris Corporation
Intersections, Inc.
L-3 Communications
Lane Construction Martone Radio Technology, Inc.
McCormick Paints
MTI Technology
Northern Virginia Magazine
Nova Datacom
NSG Datacom
Polar Star Consulting
Praxis
RSG Architects
Ryland Homes Smile Wellbeing Center
SoftTech Consulting
SRC
Trusmiles Dental
U.S. Immigration and Customs Enforcement
Wisc Consulting Enterprises
ParkEast Corporate Center 1
One RidgeView
Avion Mid-Rise 1
One RidgeView
Tech Center 1
Independence Center
Avion Mid-Rise 1
Southgate Center 2
Samson Realty
Independence Center
Lakeside 1 at Westfields
Southgate Center 1
Davis Building
One RidgeView
JFCU Headquarters Building
Stonecroft Business Park, Building A
Corporate Pointe 3 Colonel’s Ridge 4
The Ponds at Lafayette I
Avion Lakeside 12
The Gordon Building
Parkeast Corporate Center 3
One RidgeView
14150Newbrook Drive
14900Conference Center Drive
14500Avion Parkway
14900Conference Center Drive
3901Stonecroft Boulevard
15036Conference Center Drive
14500Avion Parkway
4511Singer Court
14526Lee Road
15036Conference Center Drive
14104-14108Newbrook Drive
4501Singer Court
3859Centerview Drive
14900Conference Center Drive
5175Parkstone Drive
14801Murdock Street
14280Park Meadow Drive
14137-14151Robert Paris Court
4229Lafayette Center Drive
14685Avion Parkway
4501Daly Drive
13990-13996 Parkeast Circle
14900Conference Center Drive
5,168
7,834
6,188
5,375
10,037
9,301
20,041
2,060
3,500
9,330
3,184
12,264
8,855
3,633
3,173
3,483
13,348
1,228
4,347
43,767
2,051
30,314
7,444
DULLES
The Boeing Company
Clearpath Solutions Group
Compugain
Computer Associates
Delex Systems
Delex Systems
Deltek
EADS/Airbus
Evolvent Technologies
Exostar
Financial Business Management
General Dynamics Information Technology
GeoEye
The Learning Community
Lockheed Martin
National Rural Telecommunications Cooperative
NPP Global
Salesforce.com
Sekon Enterprise
Uptown Café
Presidents Park 3
Dulles Creek
Northridge II
Computer Associates
Presidents Park 1
Presidents Park 2
Computer Associates
Overlook Tower 1
Dulles Corporate Center 1
Northridge II
Republic Park 8
McLearen Center
Dulles Corner Gateway
Dulles Technology Center, Phase 1, Building 3
Dulles Executive Plaza II
NRTC Building
Dulles Station East
Overlook Tower 1
Plaza Ridge II
Dulles Station West
2525Network Place
13800Coppermine Road
13241Woodland Park Drive
2291Wood Oak Drive
13861Sunrise Valley Drive
13865Sunrise Valley Drive
2291Wood Oak Drive
2550Wasser Terrace
13755Sunrise Valley Drive
13241Woodland Park Drive
13461Sunrise Valley Drive
13857McLearen Road
2325Dulles Corner Boulevard
13505Dulles Technology Drive
13560Dulles Technology Drive
2121Cooperative Way
2303Dulles Station Boulevard
2550Wasser Terrace
2250Corporate Park Drive
2300Dulles Station Boulevard
40,000
11,776
9,571
70,051
8,556
25,959
157,911
99,650
41,449
23,093
4,469
29,547
81,236
10,635
189,764
65,589
5,446
18,151
10,160
1,072
FAIRFAX CENTER/OAKTON
Aerotek
Allied Technologies
Annie Salon and Spa
BEI Structural Engineers
CGI
Christopher Management, Inc.
Cloud Telecomputers
Compliance Council
CR Software
Crawford & Company
E.K. Fox & Associates
Fair Oaks OBGYN
Fair Oaks Orthopedics
First Virginia Community Bank
Focus Financial
Future Technologies
Hazen & Sawyer
Headstrong Corporation, Inc.
Hispanos Services
IMT
© Fairfax County Economic Development Authority Bridgewater Corporate Center
Fairwood
Oakton Cross
Pender Mill 1
AMS Building
Oakton Corporate Center 2
Fair Center Office Building
Fair Oaks Commmerce Center
Crown Ridge @ Fair Oaks
Oakwood Center
Crown Ridge @ Fair Oaks
Fair Oak Medical Office Building 3
Fair Oak Medical Office Building 3
Bridgewater Corporate Center
Fair Oaks Plaza
Fair Lakes 3
Crown Ridge @ Fair Oaks
Crown Ridge @ Fair Oaks
Fair Oaks Corporate Center
Hyatt Plaza 1
11325Random Hills Road
10,388
4401Fair Lakes Court
2,151
2960Chain Bridge Road
1,808
3930Pender Drive
2,262
12601Fair Lakes Circle
192,000
10461White Granite Drive
4,856
11240Waples Mill Road
4,589
11320Random Hills Road
3,888
4035Ridge Top Road
12,692
11781Lee-Jackson Memorial Highway 1,570
4035Ridge Top Road
13,409
3620Joseph Siewick Drive
4,686
3620Joseph Siewick Drive
9,600
11325Random Hills Road
1,331
11350Random Hills Road
1,413
12600Fair Lakes Circle
11,281
4035Ridge Top Road
12,640
4035Ridge Top Road
2,698
11216Waples Mill Road
1,245
12701Fair Lakes Circle
1,676
Real Estate Report—Yearend 2010 5
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Office Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
FAIRFAX CENTER/OAKTON, continued
Lockton Companies, LLC
Three Monument Place
Lumark Technologies
Bridgewater Corporate Center
MarCom Group, Inc.
Fifty West Corporate Center Phase 2
McLean Mortgage
Bridgewater Corporate Center
Monarch Bank
Crown Ridge @ Fair Oaks
Northrop Grumman
Greenwood Plaza Building
Onyx Government Services
Potomac Mortgage Group
Crown Ridge @ Fair Oaks
ROCS, Inc.
Fairwood
Salient Solutions
Centerpointe I
Shapiro & Burson, LLP
Greenbriar Corporate Center 1
Spectrum Healthcare
Redwood Plaza 3
Strategic Intelligence Group
Fair Oaks Commmerce Center
Team Askin Technology
Greenbriar Corporate Center 1
Technical Analysis Center
West Oaks Executive Park 2
The Clinical Skin Center
Fair Oaks Medical Building 2
The Lindsey Group
Fair Oaks Commmerce Center
Thompson Greenspan
Crown Ridge @ Fair Oaks
Total Health Medical Center
Pender Mill 1
Uptown Café
High Ridge Corporate Park
U.S. Immigration and Customs Enforcement
Fair Oaks Commmerce Center
Whitman, Requardt & Associates, LLP
Witt Mares
Three Monument Place
Youngs Dance School
Fairfax Plaza Office Park
Zimmerman Associates
Redwood Plaza 2
12150Monument Drive
11325Random Hills Road
3975Fair Ridge Drive
11325Random Hills Road
4035Ridge Top Road
12015Lee-Jackson Memorial Highway 3701Pender Drive
4035Ridge Top Road
4401Fair Lakes Court
4050Legato Road
13135Lee-Jackson Memorial Highway
10580Arrowhead Drive
11320Random Hills Road
13135Lee-Jackson Memorial Highway
3702Pender Drive
3700Joseph Siewick Drive
11320Random Hills Road
4035Ridge Top Road
3930Pender Drive
3877Fairfax Ridge Road
11320Random Hills Road
3701Pender Drive
12150Monument Drive
9514-9516Lee Highway
10600Arrowhead Drive
2,356
1,881
5,700
15,676
4,202
9,209
12,252
7,240
4,222
30,075
3,461
40,789
4,568
12,678
5,738
2,985
4,100
14,017
2,437
2,273
20,900
12,437
4,563
1,500
1,002
HERNDON
2TZ, Inc.
CertiPath, LLC
Parkway One
Construction Bonds, LLC
Herndon Parkway Center
Dogtopia
Baker Building
Guident Technologies, Inc.
President’s Plaza II
HumanR, Inc.
Crossroads of Dulles E
IECS, LLC
Herndon Corporate Center B
Irving Burton Associates, Inc.
Atrium at Worldgate
ITT Corporation
Monument III @ Worldgate
Kinetix Technology, LLC
Monroe Business Center 5
MCS
Monroe Business Center 3
MedAssurant, Inc.
Herndon Square Building D
Music Loft
Elden Place
MY TJ Prep
Springwood Office Center
NOVA Home Healthcare
Crossroads of Herndon Building G
Radian, Inc.
Monument III @ Worldgate
REI Systems
Herndon Corporate Center Building C
RGB Technology, Inc.
Monroe Business Center 6
Salvage Tech
Monroe Business Center 6
Speedy Tax Service
Crossroads of Dulles E
SportFit Lab
Crossroads of Herndon Building G
TecSec
Monument II
Teknics
Monument II
Trusted Computer Solutions
Monument II
UCI
Monroe Business Center 1
Vishnavi
Sugarland Professional Building
Vovici
President’s Plaza 1
Zerion Software
Monroe Business Center 3
950Herndon Parkway
555Herndon Parkway
1110Herndon Parkway
720Jackson Street
198Van Buren Street
1031Sterling Road
1165Herndon Parkway
205Van Buren Street
12930Worldgate Drive
570Herndon Parkway
610Herndon Parkway
510Spring Street
1141-1151Elden Street
462Herndon Parkway
1041Sterling Road
12930Worldgate Drive
1155Herndon Parkway
590Herndon Parkway
590Herndon Parkway
1031Sterling Road
1041Sterling Road
12950Worldgate Drive
12950Worldgate Drive
12950Worldgate Drive
620Herndon Parkway
201Elden Street
196Van Buren Street
610Herndon Parkway
3,067
4,967
1,304
4,583
6,420
3,000
25,257
7,932
7,390
1,789
3,473
12,516
2,400
2,265
1,500
3,487
13,564
4,686
4,355
1,000
1,000
11,571
2,018
46,397
5,011
1,200
26,463
1,400
MCLEAN/GREAT FALLS
Chattering Children
McLean Professional Park
First Home Mortgage
McEnerney & Associates
Madison Building
Medex Pharmacy
McLean Office Center
Minimally Invasive Pain Institute
Lewinsville Office Building
Morris Day Architecture
Emerson One Condo
Orbis Operations
McLean Commercial Center
Pactolus Holdings, LLC
McLean Plaza
Somerset Systems
Old McLean Village
Tangerine Beauty Bar
Elysce Building
Tripathi Learning and Enrichment Center
Bays Professional Center
Virginia Surgical Center
Heritage Bank Building
6 Real Estate Report—Yearend 2010
1495Chain Bridge Road
1355Beverly Road
1320Old Chain Bridge Road
6845Elm Street
7601Lewinsville Road
6718Whittier Avenue
6849Old Dominion Drive
6862Elm Street
6720-6732Old McLean Village Drive
10135Colvin Run Road
6829Elm Street
1313Dolley Madison Boulevard
1,933
1,728
1,098
1,197
2,000
2,208
1,954
1,558
1,345
2,720
1,400
2,075
© Fairfax County Economic Development Authority
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Office Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
MERRIFIELD
20-20 Communications
Fairfax Plaza Office Park
Accenture
One Jefferson Park
American Chemistry Council
AOR
Williams Plaza 1
ArXMobile
Riggs/PNC Bank
Bitar Cosmetic Surgery Center
Executive Park 2
Business Computer Management Consulting
Hartland Business Center 3
Capital Women’s Care
Executive Park 2
Cardiovascular Group
Merrifield Place II
Defense Logistics Agency
One Jefferson Park
GDIT
Williams Plaza 2
GSA Metro Place IV
HandySoft
JP Morgan Chase & Company
Keypoint Government Solutions
Willow Oaks 1
King Fisher
Lockheed Martin
MetroPlace 1
LPA Group, Inc.
Metropolitan Neuro Ear Group
Executive Park 2
Neurology Center of Fairfax
Prosperity Plaza 1
Northrop Grumman Park Tower
Potomac Energy Group
Merrifield Place II
Quest Diagnostics
Prosperity Plaza 1
SoftWorld
Dunn Loring Center
U.S. Army Medical Command
Melpar Building
U.S. Food Export Showcase
Pine Ridge Professional Building
Virginia University of Oriental Medicine
Fairfax-Mathy Office Building
WIGO Mobile
9518-9522Lee Highway
8111Gatehouse Road
2900Fairview Park Drive
3040Williams Drive
8315Lee Highway
3023Hamaker Court
2735Hartland Road
3023Hamaker Court
2901Telestar Court
8111Gatehouse Road
3060Williams Drive
2677Prosperity Ave
3141Fairview Park Drive
3190Fairview Park Drive
8260Willow Oaks Corporate Drive
3110Fairview Park Drive
2650Park Tower Drive
3141Fairview Park Drive
3023Hamaker Court
3020Hamaker Court
2980Fairview Park Drive
2901Telestar Court
3020Hamaker Court
2722-2724Merrilee Drive
7700Arlington Boulevard
3918Prosperity Avenue
9401Mathy Drive
8442-8446Lee Highway
1,500
12,000
10,378
10,495
5,000
2,515
1,623
7,186
24,860
70,058
4,548
22,655
11,586
7,522
4,270
6,561
6,654
3,884
5,781
4,782
358,898
6,940
1,818
1,983
668,285
2,480
1,969
1,300
NEWINGTON/LORTON
Allied Electronics
DRS Technical Services
Fleming Speech Therapy Services, Inc.
Parsons Corporation
Rowan Solutions
YTS Global Health
Public Storage Business Center 4
Gunston Industrial Park Phase 2, Building D Grovedale Professional Center 1
Gateway 95 Business Park
Public Storage Business Center 4
Public Storage Business Center 4
7406Alban Station Court
7025Newington Road
6161-6167Fuller Court
8500Cinder Bed Road
7406Alban Station Court
7406Alban Station Court
1,319
6,577
1,000
8,000
2,392
1,906
RESTON
Acclaim Technical Services
AEEC, LLC
Plaza America II
Allstate Insurance
Town Center Office Building
AMAR International
CFEC
American Society of Appraisers
Sunset Corporate Plaza One
AppAssure
East 2
ASEC
Reston Plaza 1
Ashe, PC
North 1
Ashgar Kazemifar, DDS
Bowman Green Professional Center
Avenity, Inc.
Parkridge Center 4
BEI
Reston Quadrangle
Berry & Berry, PLLC
Two Fountain Square
Bodies in Motion Physical Therapy
Town Center Office Building
BRS Labs
Reston Quadrangle
Centuria Corporation
Democracy Tower
Coldwell Banker
comScore, Inc.
SoMA - Center Building
Comtech
Contact Solutions
SoMA - Center Building
CRGT, Inc.
Two Fountain Square
CVG, Inc.
Cyberspace Solutions
Two Reston Overlook
Data Networks
David, Brody & Dondershine, LLP
Sunrise Plaza
Defense Intelligence Agency
MGA I
Defense Intelligence Agency
MGA II
Discover Technologies
Plaza America II
DLA Piper
Two Fountain Square
DMS International, Inc.
Two Fountain Square
Everis USA, Inc.
Two Fountain Square
© Fairfax County Economic Development Authority 1801Robert Fulton Drive
11710Plaza America Drive
1760Reston Parkway
1920Association Drive
11107Sunset Hills Road
1925Isaac Newton Square
12030Sunrise Valley Drive
11440Isaac Newton Square
11713-11717Bowman Green Drive
10700Parkridge Boulevard
11130Sunrise Valley Drive
11921Freedom Drive
1760Reston Parkway
11130Sunrise Valley Drive
11955Democracy Drive
1801Reston Parkway
11950Democracy Drive
1800Alexander Bell Drive
11950Democracy Drive
11921Freedom Drive
11111Sunset Hills Road
12021Sunset Hills Road
1821Michael Faraday Drive
12355Sunrise Valley Drive
12310Sunrise Valley Drive
12300Sunrise Valley Drive
11710Plaza America Drive
11921Freedom Drive
11921Freedom Drive
11921Freedom Drive
4,265
1,946
1,250
2,279
8,775
7,485
1,855
2,146
1,178
7,717
3,597
1,930
1,500
1,194
7,000
2,345
5,522
8,148
11,858
25,406
1,289
3,888
4,546
2,860
263,870
259,612
3,867
16,808
5,035
3,462
Real Estate Report—Yearend 2010 7
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Office Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
RESTON, continued
Finnegan, Henderson, Farabow, Garrett and Dunner, LLP
Two Freedom Square
Fujitsu America
SoMA - Center Building
Fulcrum Securities, inc.
FutureWei Technologies, Inc.
Two Fountain Square
Global Computer Enterprises
Parkridge Center 5
Guidance Residential
Sunset Corporate Plaza One
Headstrong Corporation, Inc.
One Fountain Square
Heart and Mind Strategies
Sunrise Plaza
HydroGeologic, Inc.
Sunset Corporate Plaza One
Indyne Systems
Reston International Center
InfoSystems Technologies, Ltd.
Two Reston Overlook
Integrated Software Solutions
Intelligent Waves, LLC
LeighFisher, Inc.
Plaza America IV
Lentech
America Online Building
Lightsquared Parkridge Center 1
Lockheed Martin
One Fountain Square
Logos Technologies
Parkridge Center 4
McNeil Technologies
One Fountain Square
MetroStar
Boxwoods
Monticello Group
Town Center Office Building
NavStar, Inc.
Oakbrook Building
Near Infinity
Campus Commons 4
Netbiscuits, Inc.
NetWitness
Parkridge Center 4
Northrop Grumman Mission Systems
One Reston Overlook
Northwest Mutual
Reston Heights
Olive Garden
Commerce Executive 2
Onexus
Reston International Center
Packaging Machinery Manufacturers Institute
One Fountain Square
Pine Rock Production, Inc.
Faraday Professional Center
Pivotal IT
Post Trail Office Building
Project Resource
Sunrise Tech Center
Projility
NPES Building
Public Affairs Support Service
Qlarion
Cascades East
Quadrant, Inc.
Campus Commons 4
Qvine Corporation
Reston Heights
Red Lion Technology
Reston Office Campus
Red Velvet Cupcakery
SoMA - Center Building
Reston Pilates
SCS Engineers Building
SAIC
Reston Executive Center 1
Sallie Mae
Reston Crossing
Santeon
Plaza America III
ScienceLogic, LLC
Parkridge Center 4
Scitor
One Freedom Square
Scitor
One Discovery Square
Sensis Corporation
Sentrillion
Campus Commons 4
SM&A
One Fountain Square
Stanmeyer & Noel Architects, PC
Audubon 1
State Justice Institute
One Freedom Square
STG, Inc.
One Reston Overlook
The Standard Register Company
Transaction Network Services
Commerce Executive 6
True Tandem, LLC
One Fountain Square
VeriSign
Verizon
Campus Commons Virginia Family & Cosmetic Dentistry
Town Center Office Building
Wallace, Willmore, Cromwell & Company
One Fountain Square
11955Freedom Drive
11950Democracy Drive
11190Sunrise Valley Drive
11921Freedom Drive
10780-10790Parkridge Boulevard
11107Sunset Hills Road
11911Freedom Drive
12355Sunrise Valley Drive
11107Sunset Hills Road
11800Sunrise Valley Drive
12021Sunset Hills Road
1800Alexander Bell Drive
1801Robert Fulton Drive
11730Plaza America Drive
12100Sunrise Valley Drive
10800-10802Parkridge Boulevard
11911Freedom Drive
10700Parkridge Boulevard
11911Freedom Drive
1856Old Reston Avenue
1760Reston Parkway
1897Preston White Drive
1881Campus Commons Drive
11190Sunrise Valley Drive
10700Parkridge Boulevard
12011Sunset Hills Road
11790Sunrise Valley Drive
11490Commerce Park Drive
11800Sunrise Valley Drive
11911Freedom Drive
1820Michael Faraday Drive
11150Sunset Hills Road
12359Sunrise Valley Drive
1899Preston White Drive
1950Roland Clarke Place
12007Sunrise Valley Drive
1881Campus Commons Drive
11720Sunrise Valley Drive
12310Pinecrest Road
11950Democracy Drive
11260Roger Bacon Drive
12100Sunset Hills Road
2001Edmund Halley Drive
11720Plaza America Drive
10700Parkridge Boulevard
11951Freedom Drive
12010Sunset Hills Road
11111Sunset Hills Road
1881Campus Commons Drive
11911Freedom Drive
1890Preston White Drive
11951Freedom Drive
12011Sunset Hills Road
2100Reston Parkway
11480Commerce Park Drive
11911Freedom Drive
12061Bluemont Way
1880Campus Commons Drive
1760Reston Parkway
11911Freedom Drive
70,000
9,516
5,683
4,348
3,161
17,863
14,454
5,121
4,059
6,382
4,580
2,371
2,216
7,088
1,405
70,094
14,213
3,617
22,695
1,750
1,906
1,744
14,761
3,229
30,000
83,922
5,400
1,748
3,122
11,024
1,165
1,163
1,495
1,251
10,762
2,378
7,924
7,685
5,000
3,400
2,712
62,840
87,809
17,416
28,618
170,000
40,252
5,872
3,086
8,624
2,307
4,448
110,896
2,535
3,919
3,843
221,326
81,618
2,500
3,892
RICHMOND HIGHWAY
Enabled Access, Inc.
Hopkins House
Long & Foster Real Estate
8 Real Estate Report—Yearend 2010
Mt. Zephyr Professional Center
One Beltway Center
Huntwood Plaza
4010Maury Place
5904Richmond Highway
5845Richmond Highway
1,439
2,313
6,265
© Fairfax County Economic Development Authority
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Office Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
SEVEN CORNERS
American Care Partners at Home
Kastle Systems
Murray, Johnson, White & Associates
NOVA Housecall MD, LLC
Peak Roofing
Providence Building
Two First Virginia Plaza
Two First Virginia Plaza
Providence Building
Seven Corners Professional Park
6521Arlington Boulevard
6402Arlington Boulevard
6402Arlington Boulevard
6521Arlington Boulevard
6408Seven Corners Place
1,020
33,547
8,128
1,200
1,760
SPRINGFIELD/FRANCONIA
1st Class Sleep Diagnostic Center
Springfield Plaza Center
Capital Airspace Group
ALM Office Building
Darul Hada, Inc.
Fibergate
Oak Tree Plaza
Ki Ho Military Acquisition Consulting, Inc.
Springfield Executive Center
Kinetix
ALM Office Building
Kratos Defense and Security
One Kingstowne Towne Center
M&M Massage
Oak Tree Plaza
Mary Kay International
Versar Center 1
Paxton International
Forbes Building
Plum Point Church
Grovedale Professional Center 2
Savantage Solutions
Springfield Office Center
SES Group
Capitol 1
State Farm Insurance
Poplar Run Office Park 5
The Endodontic Group
Apple Federal Credit Union
The Tauri Group
Metropark 6
6122-6136Brandon Avenue
5400Shawnee Road
6666Commerce Street
6060-66/6080-82Franconia Road
5501Backlick Road
5400Shawnee Road
5971Kingstowne Village Parkway
6060-66/6080-82Franconia Road
6850Versar Drive
8001Forbes Place
6151-6157Fuller Court
6564Loisdale Court
5515Cherokee Avenue
5285Shawnee Road
6831Sir Viceroy Drive
6361Walker Lane
2,410
1,306
27,246
1,134
4,125
5,799
14,188
1,134
1,036
6,468
1,000
4,855
1,300
5,826
4,677
80,361
TYSONS CORNER
1105 Media
Point West Plaza
21st Century
Tysons Tower I
ACHP
Tysons Tower I
Acumen Solutions
Aetna
Tysons Executive Plaza 2
Analytic Strategies, LLC
The Concourse West
Angel.com
Tysons Commerce Center
ATI Solutions
Spacenet Building
Atlas Advancement
Aveshka
Tysons Dulles Plaza 1
Avison Young
Shenandoah Building
Beal Service Group
International Gateway 2
Betterworld Telecom
Brunswick Building
Body Elements
Tycon 5
Booz Allen Hamilton
John Marshall I
Booz Allen Hamilton
John Marshall III
C2 Technologies, Inc.
Tysons International Plaza 1
Capital Assets Planning, Inc.
South Tysons Office Park
Capital Trust
Towers Crescent A
Carepeople Home Health, Inc.
Courthouse Rowe 3
Carr Workplaces
Corporate Office Center @ Tysons II
Carreer Builder
Tysons International Plaza 1
Centrifuge Systems
Park Place I
Centurum, Inc.
Park Place II
CherryRoad Technologies, Inc
Children’s Center for Language and Culture
South Tysons Office Park
Community Services
Park Place I
Cornea Consultants
Greensboro Park
Cornerstone Deli Catering
Westwood Park
Crystal Spa
South Tysons Office Park
Cvent, Inc.
Greensboro Park
Direct Nutritionals
Diya Restaurant
Tycon Courthouse
Dovel Technologies
McLean Hilton Office Complex
Dulles University
River Tower
Edge Commercial
Westwood Park
Equity Residential Properties Trust
Courthouse Center
Ericsson Data Networds
The Concourse West
ESC.Gov
Georgetown Bank
GRQ, Inc.
Westwood Park
Hilton Worldwide
Park Place I
© Fairfax County Economic Development Authority 8609Westwood Center Drive
8500Leesburg Pike
8500Leesburg Pike
1660International Drive
2010Corporate Ridge
1595Spring Hill Road
8219Leesburg Pike
1750Old Meadow Road
8201Greensboro Drive
1420Spring Hill Road
7901Jones Branch Drive
8130Boone Boulevard
7921Jones Branch Drive
8230Old Courthouse Road
8281Greensboro Drive
8285Greensboro Drive
1921Gallows Road
2104Gallows Road
8000Towers Crescent Drive
1952Gallows Road
1750Tysons Boulevard
1919Gallows Road
7926Jones Branch Drive
7930Jones Branch Drive
8150Leesburg Pike
2102Gallows Road
7926Jones Branch Drive
8180Greensboro Drive
8618Westwood Center Drive
2110Gallows Road
8180Greensboro Drive
8150Leesburg Pike
2070Chain Bridge Road
7918Jones Branch Drive
1934Old Gallows Road
8618Westwood Center Drive
1953Gallows Road
1595Spring Hill Road
1660International Drive
1850Towers Crescent Drive
8618Westwood Center Drive
7926Jones Branch Drive
19,243
6,377
1,832
25,598
6,266
2,590
24,207
10,848
7,955
4,903
4,298
2,028
1,695
2,112
255,004
208,221
1,595
1,040
2,258
1,037
20,958
2,527
4,797
7,338
7,900
1,053
1,302
9,179
1,852
1,040
23,482
5,000
1,530
10,311
4,420
1,661
12,413
13,317
5,810
7,000
1,173
15,813
Real Estate Report—Yearend 2010 9
Office Market Countywide Trends – Leasing Activity
Yearend 2010
Office Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
TYSONS CORNER, continued
Hilton Worldwide
Park Place II
Hot Yoga Bikram Tysons Dulles Plaza 1
Invertix
IP Solutions Holdings, LLC
Irisguard
Greensboro Park
iTalk Global Communications
Park Place I
Kaseman
Corporate Office Center @ Tysons II
Kaztronix
Tysons Center
Keane, Inc.
Konopaske, Fenning & Associates
Towers Crescent A
Korean Times
Tysons Office Center
Korean-American Scientist and Engineers Association
Courthouse Rowe 3
LCC International, Inc.
River Tower
Legal E-Staffing, Inc.
Management Concepts, Inc.
Mark Logic
Gannett/USA Today Headquarters
Monarch Dentistry
American Center East
Monster Government Solutions
MWAA
The Concourse Building
MyTalk, Inc.
Cherner Office Building
National Glass Association
Navigation Arts, LLC
Shenandoah Building
Next Century Corporation
Tysons Executive Plaza 2
NJVC, LLC
Westwood Tower
Northrop Grumman Mission Systems
Pierce Building
Nostos
International Gateway 1
Olcott Consulting Group
Tysons Executive Plaza 2
Palantir Technologies
Peracon
Centennial Plaza 2-A
Powerwave Technologies
East Building Proficio Mortgage
Tysons Dulles Plaza 3
Prudential Mortgage Capital Company
Greensboro Corporate Center 1
Quantitative Software Management
Tysons Executive Plaza 1
Reach Local
Tysons Office Center
RightStar Systems
Robert Half International, Inc.
North Tower
SCI Consulting
McLean Hilton Office Complex
Shared Spectrum
The Concourse West
Skinner, Ossakow & Associates, DDS
Greensboro Park
Social Security Administration
Solutions By Design
Tysons Office Center
Speakerbox
Tower Building
Spectrum Group, LLC
Tysons International Plaza 1
Staffing Now, Inc.
Westwood 8
Summit Technologies
Greensboro Park
Sunrise Deli & Grill
Westwood 4
Tel Labs
Time Warner Telecom
Westpark Corporate Center Building 1
TMP Worldwide
Corporate Office Center @ Tysons II
Troutman Sanders
University of North America
Wachovia Building
US Immigration and Customs Enforcement
Courthouse Center
Veris Group
Tycon 3
Vision Foundry
American Center East
Vision III Imaging, Inc.
Westwood 3
Washington Resource Associates
Wells Fargo
Tysons Office Center
WTAS
Corporate Office Center @ Tysons II
Wyle Information Systems
Xvionics
American Center East
7930Jones Branch Drive
1420Spring Hill Road
8201Greensboro Drive
8280Greensboro Drive
8180Greensboro Drive
7926Jones Branch Drive
1600Tysons Boulevard
8260Greensboro Drive
1660International Drive
8000Towers Crescent Drive
8133Leesburg Pike
1952Gallows Road
1934Old Gallows Road
1577Spring Hill Road
8230Leesburg Pike
7950Jones Branch Drive
8300Boone Boulevard
8280Greensboro Drive
1593Spring Hill Road
1568Spring Hill Road
1945Old Gallows Road
7901Jones Branch Drive
2010Corporate Ridge
8614Westwood Center Drive
7575Colshire Drive
8100Boone Boulevard
2010Corporate Ridge
1660International Drive
8381Old Courthouse Road
7600BLeesburg Pike
1410Spring Hill Road
8401Greensboro Drive
2000Corporate Ridge
8133Leesburg Pike
1951Kidwell Drive
1751Pinnacle Drive
7918Jones Branch Drive
1595Spring Hill Road
8200Greensboro Drive
8521Leesburg Pike
8133Leesburg Pike
7900BWestpark Drive
1919Gallows Road
8619Westwood Center Drive
8200Greensboro Drive
8607Westwood Center Drive
8221Old Courthouse Road
8484Westpark Drive
1600Tysons Boulevard
1660International Drive
8117Leesburg Pike
1953Gallows Road
8229Boone Boulevard
8300Boone Boulevard
8605Westwood Center Drive
8201Greensboro Drive
8133Leesburg Pike
1600Tysons Boulevard
1600International Drive
8300Boone Boulevard
15,709
4,023
13,137
3,868
1,799
4,076
22,594
2,502
25,598
7,595
4,969
1,342
2,956
1,371
3,000
16,072
1,868
22,608
10,478
3,500
9,198
5,359
2,970
20,776
35,625
3,463
3,490
25,598
2,249
8,369
2,105
19,844
11,950
5,200
4,828
14,916
11,877
10,500
1,919
11,737
4,391
4,234
5,511
2,597
2,471
3,113
2,815
10,824
17,306
23,900
2,260
32,458
4,095
2,633
3,214
4,272
4,286
2,500
35,944
2,536
VIENNA
1st Stop Health Services
Endocrine and Diabetes Center
Liberty Tax Service
The National Bureau of Economic Research
State Farm Insurance
10 Real Estate Report—Yearend 2010
Vienna Oaks Office Center
White Oak Tower Building
White Oak Tower Building
Vienna Oaks Office Center
White Oak Tower Building
2555-2567Chain Bridge Road
301Maple Avenue West
301Maple Avenue West
2555-2567Chain Bridge Road
301Maple Avenue West
1,900
2,260
2,260
2,000
1,803
© Fairfax County Economic Development Authority
Office Market Countywide Trends – Construction Activity
New Office Building Deliveries by Year
Yearend 2010
Office Construction by Submarket –
Yearend 2010
Sq. Ft.
9 mil
8 mil
7 mil
6 mil
Merrifield / 80,000 s.f.
Springfield / 95,000 s.f.
5 mil
4 mil
690,909
3 mil
2 mil
0
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
1 mil
Office Building Deliveries – Second Half 2010
Project Name
VDOT/VSP Administration Building
Address
Submarket
Alliance Drive
Fairfax Center
Square Feet
166,100
Lead Tenant(s)
Delivery
VA Department of Transportation, VA State Police
October 2010 1
Office Buildings Under Construction – Second Half 2010
Project Name
CMRESA
Metropark VII
1
2
Address
Submarket
8500 Hilltop Road
6348 Walker Lane
Merrifield
Springfield
Square Feet
Lead Tenant(s)
Delivery
80,000
95,000
CMRESA
VSE Corporation
March 2011 1
February 2011 2
LEED-registered new construction.
LEED-registered core and shell.
For an explanation of LEED certification, see glossary on page 22.
CMRESA
© Fairfax County Economic Development Authority Metropark VII
Real Estate Report—Yearend 2010 11
Office Market Countywide Trends – Sales Activity
Yearend 2010
3190 Fairview Park / Merrifield
Hartland Business Center 1 / Merrifield
3120 Fairview Park / Merrifield
246,108 sq. ft. • $74,227,232 ($302 per sq. ft.)
Buyer: Colony Capital
Seller: Pacific Trust
23,598 sq. ft. • $4,600,000 ($195 per sq. ft.)
Buyer: Torres Holdings
Seller: Hartland Place, LP
184,000 sq. ft. • $43,000,000 ($234 per sq. ft.)
Buyer: COPT
Seller: Fairview Park Investments
Independent Building / Springfield
Park Tower / Merrifield
Tycon 2 & 3 / Tysons Corner
9,327 sq. ft. • $1,600,000 ($172 per sq. ft.)
Buyer: Deena Hadithi, DMD
Seller: 7210 Old Keene Mill Road, LLC
358,898 sq. ft. • $101,332,333 ($282 per sq. ft.)
Buyer: Northrop Grumman
Seller: ING Clarion Office Fund
326,017 sq. ft. • $35,400,000 ($109 per sq. ft.) 1
Buyer: PS Business Parks
Seller: JBG Companies
Techpointe / Dulles
Gunston Plaza Professional Building / Lorton
Emergency Vet Clinic / Vienna
57,832 sq. ft. • $10,200,000 ($176 per sq. ft.)
Buyer: H/F Techpointe
Seller: Norton Building, LLC
21,390 sq. ft. • $2,847,977 ($133 per sq. ft.) 2
Buyer: Madison Marquette
Seller: Gunston Station LLC
7,000 sq. ft. • $1,760,000 ($251 per sq. ft.)
Buyer: Jones Lovell Enterprises
Seller: Emergency Veterinary Clinics of No. Virginia
Tysons Professional Building / Tysons Corner
NAEA Building / Reston
Mission Ridge I & II / Chantilly
26,811 sq. ft. • $5,750,000 ($214 per sq. ft.)
Buyer: Bonkey Investment Group, LC
Seller: Riveria Properties
4,824 sq. ft. • $975,000 ($202 per sq. ft.)
Buyer: 1916 Holdings, LLC
Seller: National Art Education Association
156,040 sq. ft. • $40,500,000 ($132 per sq. ft.) 3
Buyer: LaSalle Investment Management
Seller: Capmark Bank
Two-building portfolio sale.
Multi-building sale including retail. Total sale price was $28.6 million with 196,414 sq. ft. of retail and 21,390 sq. ft. of office space.
3
Two-building portfolio sale from lender.
1
2
12 Real Estate Report—Yearend 2010
© Fairfax County Economic Development Authority
Office Market Countywide Trends – Sales Activity
Yearend 2010
Notable Office Building Sales – Second Half 2010
(Price Per Square Foot)
3190 Fairview Park / Merrifield
$302
Park Tower / Merrifield
$282
Greensboro Park 1 and 2 / Tysons Corner
$241
Gloucester Building / Tysons Corner
$240
Culpeper Building / Tysons Corner
$239
Greensboro Park / Tysons Corner
519,741 sq. ft. • $125,250,000 ($241 per sq. ft.) 4
Buyer: Beacon Capital
Seller: Lehman Brothers
Office Building Sales by Year (Number of Buildings Sold)
86
2000
2001
43
2002
48
2003
57
2004
67
2005
Plaza East I & II / Chantilly
2006
250,000 sq. ft. • $31,600,000 ($126 per sq. ft.) 5
Buyer: MRP Realty/Rockpoint Group
Seller: GE Capital
2007
59
87
77
2008
20
2009
22
2010
69
Office Building Sales Over Time
(Total Value and Average Price Per Square Foot by Reporting Period)
West*Group Portfolio / Tysons Corner
1,823,697 sq. ft. • $222,000,000 ($122 per sq. ft.) 6
Buyer: Credit Suisse/DLJ Investors
Seller: West*Group
Total
Value
Average Price
Per Sq. Ft.
$350
$200 mil
$300
$150 mil
$250
$100 mil
Westpark Portfolio / Tysons Corner
821,040 sq. ft. • $140,000,000 ($171 per sq. ft.) 7
Buyer: PS Business Parks
Seller: Credit Suisse/DLJ Investors
Two-building portfolio sale.
5
Two-building portfolio sale from lender.
6
Portfolio Sale of 22 office buildings and land. $/sq. ft. amount
does not account for the vacant land value.
7
Seven-building portfolio sale. All were initially part of the
West*Group portfolio sale to Credit Suisse/DLJ Investors.
4
© Fairfax County Economic Development Authority $82,964,600
$149
$50 mil
$0
$200
$150
MY YE MY YE MY YE MY YE MY YE MY YE MY YE MY YE MY YE MY YE MY YE
$100
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Real Estate Report—Yearend 2010 13
Office Market Submarket Trends
Yearend 2010
Office Space Inventory by Submarket (Square Feet) – Second Half 2010
Inventory
Annandale
1,819,053
Baileys Crossroads
3,286,510
Burke
527,834
Centreville
981,928
Chantilly
11,009,698
Dulles
9,533,563
Fairfax Center/Oakton 9,879,541
Herndon (Town)
5,738,766
McLean/Great Falls
4,232,706
Merrifield
10,242,471
Newington/Lorton
619,095
Reston
19,694,938
Richmond Highway
1,056,478
Seven Corners
1,022,086
Springfield/Franconia
4,373,488
Tysons Corner
26,641,784
Vienna
2,531,896
Fairfax County 113,191,835
Total
86,156
212,707
31,610
148,534
788,354
1,056,372
585,663
221,139
47,539
1,254,424
49,455
2,180,727
24,527
56,121
198,021
1,439,657
31,298
8,412,304
Absorption
Available
Construction Activity
Relet New*
Sublet
Total
Relet
New Sublet Underway Delivered
85,136 0
1,020
319,048
270,324
22,256 26,468 0
0
201,831 0
10,876 225,019
182,605
2,642 39,772 0
0
31,610 0
0
30,510
30,510
0
0
0
0
87,121 58,998
2,415
118,387
117,501
886 0
0
0
700,689 75,418
12,247 1,801,921
993,338
708,822 99,761 0
0
771,642 274,570
10,160 1,335,787
846,187
314,710 174,890 0
0
489,016 86,357
10,290 1,525,058 1,309,412
18,606 197,040 0
166,100
200,499 13,277
7,363 771,767
668,420
37,771 65,576 0
0
46,789 0
750 170,526
166,946
0
3,580 0
0
1,219,087 10,378
24,959 1,309,110
795,195
318,496 195,419 80,000 0
49,455 0
0
26,891
26,891
0
0
0
0
2,052,528 24,774 103,425 3,667,407 2,652,987
288,269 726,151 0
0
24,527 0
0
169,070
161,359
0
7,711 0
0
56,121 0
0
126,510
115,098
0
11,412 0
0
115,078 80361
2,582 771,030
738,570
2,815 29,645 95,000 0
1,282,307 23,047 134,303 4,842,977 3,971,655
210,866 660,456 0
0
31,298 0
0
118,059
118,059
0
0
0
0
7,444,734 647,180 320,390 17,329,077 13,165,057 1,926,139 2,237,881 175,000 166,100
* Includes buildings under construction
Office Lease Rates by Submarket (Per Square Foot) –
Second Half 2010
Office Vacancy Rate by
Submarket – Second Half 2010
Relet Lease Rates
New Lease Rates*
Annandale
$16.00 –$31.50
$31.50
Baileys Crossroads
$15.00 nnn–$28.00 $27.00 nnn
Burke
$15.00 n–$25.00 nnn NA
Centreville
$15.00 nnn –$31.00 $25.00
Chantilly
$11.00 nnn––$34.75 $19.75 –$32.00
Dulles
19.00–33.50
$28.50–$36.00
Fairfax Center/Oakton
$16.00–$33.00 20.50 nnn–23.50 nnn
Herndon (Town)
$15.00 –$32.00
$20.00–$33.00 nnn
McLean/Great Falls
$15.00 nnn–$34.00
NA
Merrifield
$19.00 –$41.00
$29.50 –$41.50 nn
Newington/Lorton
$18.50–$20.00 nnn
NA
Reston
$14.00–$36.00
$28.50–$44.00
Richmond Highway
$15.00 nnn –$25.00 NA
Seven Corners
$18.00–$32.00
NA
Springfield/Franconia
$12.00 n–$35.00
NA
Tysons Corner
$19.00–$48.50
$43.00–$50.00
Vienna
.
NA
Sublet Lease Rates
$15.50–$22.00
$18.00 nn–$30.00
NA
NA
$14.00 –$25.00
$17.00 –$26.00
$15.00–$24.00
$13.75–$18.00
$27.00–$32.00
$10.00–$30.00
NA
$19.50–$43.00
$19.75
$18.00–$20.00
$22.00–$38.00
$14.00–$36.00
NA
* Includes buildings under construction
Annandale
Baileys Crossroads
Burke
Centreville
Chantilly
Dulles
Fairfax Center/Oakton
Herndon (Town)
McLean/Great Falls
Merrifield
Newington/Lorton
Reston
Richmond Highway
Seven Corners
Springfield/Franconia
Tysons Corner
Vienna
Fairfax County
Direct
16.1% ▲
5.6% ▼
5.8% ▲
12.1% ▼
15.1% ▼
12.2% ▼
13.4% —
12.3% ▲
3.9% ▼
10.9% ▼
4.3% ▼
14.9% ▲
15.3% ▲
11.3% ▼
17.0% ▲
15.7% ▲
4.7% ▲
13.3% ▼
w/Sublet
17.5% ▲
6.9% ▲
5.8% ▲
12.1% ▼
16.4% ▼
14% ▼
15.4% ▼
13.5% ▲
4.0% ▼
12.8% ▼
4.3% ▼
18.6% ▲
16.0% ▲
12.4% ▼
17.6% ▲
18.2% ▲
4.7% ▲
15.3% ▼
NOTE: The lease rates listed above are based on quoted rates of property available on December 31, 2010. It is
important to note that this is just a snapshot of quoted rates at a given point in time and that all rates are subject
to change.
For an explanation of lease rates, see glossary on page 22.
The Cleveland Bullding will be demolished as part of the Scott’s Run Station mixed-use redevelopment.
14 Real Estate Report—Yearend 2010
Capital One expansion site.
© Fairfax County Economic Development Authority
Commercial Condominium Market Countywide Trends
Yearend 2010
Commercial Condominium Sales by Year
Commercial Condominium Inventory by Submarket
Number of Units Sold
Square Feet
460
Annandale
Baileys Crossroads
Burke
Centreville
Chantilly
Dulles
Fairfax Center/Oakton
Herndon
McLean/Great Falls
Merrifield
Newington/Lorton
Reston
Richmond Highway
Seven Corners
Springfield/Franconia
Tysons Corner
Vienna
345
293
278
258
231
138
151
171 163
165
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
656,543
160,378
278,338
301,250
1,645,456
149,567
227,289
0
602,192
355,544
431,979
782,043
835,500
179,099
96,064
975,324
702,228
343,531
500,000
1 mil
Commercial Condominium Sales – Second Half 2010
Office
Medical
1.5 mil
2 mil
Industrial
Number of Sales / Average Price Per Square Foot
Number
of Sales
Price Per
Sq. Ft.
15
$400
$350
12
$300
9
$250
$200
6
$150
3
$100
0
© Fairfax County Economic Development Authority Vienna
Tysons Corner
Springfield/Franconia
Newington/Lorton
Merrifield
McLean/Great Falls
Herndon
Fairfax Center/Oakton
Chantilly
Centreville
Baileys Crossroads
Annandale
$50
Commercial Condominium Sales by Type
– Second Half 2010
Number of Sales / Average Price Per Square Foot
Submarket
Annandale
Baileys Crossroads
Burke
Centreville
Chantilly
Dulles
Fairfax Center/Oakton
Herndon
McLean/Great Falls
Merrifield
Newington/Lorton
Reston
Richmond Highway
Seven Corners
Springfield/Franconia
Tysons Corner
Vienna
Industrial
5/$147
3/$147
3/$128
Medical
Office
1/$311
2/$325
5/$250
1/$258
15/$212
4/$224
2/$261
4/$201
1/$77
3/$297
5/$351
5/$268
2/$186
4/$317
1/$225
3/$254
7/$314
2/$291
Real Estate Report—Yearend 2010 15
Industrial/Flex Market Countywide Trends – Leasing Activity
Yearend 2010
Industrial/Flex Space Trends: 1980–2010 (Square Feet)
Year
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
1
2
Direct
Standing
Inventory
Vacancy
Rate (%)
Total
Leased
New
Leased
Relet
Leased
Total Direct
Available
New
Available
Relet
Available
14,700,000
16,300,000
17,700,000
18,700,000
20,222,000
21,600,000
23,400,000
24,400,000
28,200,000
31,400,000
32,600,000
34,200,000
35,000,000
35,800,000
34,961,029
34,961,029
35,336,217
35,745,785
36,299,193
36,444,226
37,060,795
36,174,673
36,478,391
36,723,384
37,268,392
37,698,795
38,463,263
38,751,743
38,866,341
38,708,577
38,884,683
NA
3.7
6.6
3.1
7.3
6.9
6.8
6.5
7.9
8.5
10.6
13.4
12.7
11.0
9.8
8.0
8.6
6.1
5.4
3.1
3.6
4.6
7.3
7.9
6.3
6.2
7.0
7.9
9.4
12.3
12.9
NA
1,000,000
374,000
2,016,294
1,965,768
2,745,936
1,602,344
1,733,854
2,111,453
2,641,674
1,438,935
1,311,695
1,310,223
2,004,260
2,501,403
2,204,196
2,538,099
1,972,636
1,802,105
1,909,050
2,057,616
1,197,055
1,201,307
2,032,569
2,590,855
2,183,318
2,933,878
2,239,327
2,293,513
2,493,180
2,665,995
NA
NA
221,000
1,292,439
1,579,182
2,416,694
1,383,489
1,374,025
1,745,037
1,674,048
642,668
410,296
867,837
416,541
496,630
235,790
520,888
44,942
522,744
206,439
348,563
308,512
108,340
360,524
516,423
151,235
733,316
199,934
108,464
190,377
117,094
NA
NA
153,000
723,855
386,586
329,242
218,855
359,829
366,416
967,626
796,267
901,339
1,310,223
1,587,719
2,004,773
1,968,406
2,017,211
1,927,694
1,279,361
1,702,611
1,709,053
888,543
771,892
1,157,445
1,663,986
1,774,350
2,102,139
1,879,778
2,112,669
2,273,604
2,463,533
NA
600,000
1,168,000
583,996
1,469,874
1,487,269
1,588,646
1,741,092
2,478,591
2,774,996
3,661,729
4,648,621
4,439,335
3,947,894
3,433,339
2,797,486
3,073,832
2,161,158
1,956,663
1,132,003
1,338,932
1,652,959
2,658,738
2,913,787
2,361,600
2,326,169
2,681,311
3,073,360
3,643,716
4,760,709
5,025,124
NA
NA
600,000
260,931
1,337,698
1,360,339
1,011,771
1,316,991
1,229,409
1,306,948
1,669,505
1,914,470
902,275
580,301
285,565
58,568
81,494
41,552
169,439
0
273,984
575,583
547,120
246,861
149,435
237,700
393,982
437,240
328,961
328,961
255,983
NA
NA
568,000
323,065
132,176
126,930
576,875
424,101
1,179,182
1,468,048
1,992,224
2,734,151
3,537,060
3,367,593
3,147,774
2,738,918
2,992,338
2,119,606
1,787,224
1,132,003
1,064,948
1,077,376
2,111,618
2,666, 926
2,212,165
2,088,469
2,287,329
2,636,120
3,314,755
4,431,748
4,769,141
Includes inventory outside submarket areas, 1980-2000 only.
ln some years, total leasing reflects the preleasing of buildings under construction and about to be constructed, as well as new and relet space.
Industrial/Flex Office Space Inventory and Vacancy Rates: 1980–2010
Sq. Ft.
Vacancy Rate
40 million
15%
35 million
12%
30 million
25 million
9%
20 million
6%
15 million
10 million
3%
16 Real Estate Report—Yearend 2010
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
0
1980
5 million
0%
© Fairfax County Economic Development Authority
Industrial/Flex Market Countywide Trends – Leasing Activity
Yearend 2010
Top 10 Industrial/Fles Lease Deals – Second Half 2010
(Square Feet)
Oberthur Card Systems / Chantilly
95,080
New Life Christian Church / Chantilly
81,515
ASC / Lorton
46,187
Anthem Health Plans of Virginia / Chantilly
40,360
TASC / Chantilly
31,824
R.E. Michel / Chantilly
31,620
J.B. Hunt / Chantilly
27,119
Covance Laboratories, Inc. / Chantilly
24,053
Chris Rodriguez Installers / Lorton 21,500
Softlayer Technologies / Chantilly
21,167
Oberthur Card Systems renewed 95,000 square feet at 4250
Pleasant Valley Drive.
Historic Industrial/Flex Gross Leasing Activity: 1985–2010
Sq. Ft.
3 mil
2.7 mil
2.5 mil
2 mil
1.5 mil
1 mil
0
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
500,000
The Federal Express distribution center in Newington delivered
120,000 square feet.
Industrial/Flex Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
BAILEYS CROSSROADS
American Red Cross
Falika Clothing Fashions
Forever Dancing
Japanese Martial Arts
Mattress Land
American Red Cross Warehouse
American Red Cross Warehouse
American Red Cross Warehouse
American Red Cross Warehouse
American Red Cross Warehouse
5816-5818Seminary Road
5816-5818Seminary Road
5816-5818Seminary Road
5816-5818Seminary Road
5816-5818Seminary Road
18,000
2,088
3,500
2,488
6,346
CHANTILLY
6 Sigma Technology
Sullyfield Commerce Center 1
Adaequare
Parke-Long Center 1
Angie’s Catering Service
Markey Commerce Center 2
Anthem Health Plans of Virginia
Service Center 1
Aquarius
Westfax Business Center F
ARP & Associates, Inc.
Marbrook Centre
BBD
Fairtech @ Lafayette A
Brandvizion
Westfax Business Center F
Chantilly Specialists, LTD
Beaumont @ Lafayette D
Comtek
Covance Laboratories, Inc.
Avion Tech Center III
Day & Zimmerman
Northridge @ Westfields, Building VII
E.K. Fox & Associates, Inc.
Daly Brook Corporate Center A
© Fairfax County Economic Development Authority 14340-14370Sullyfield Circle
14100Parke-Long Court
4445-4449Brookfield Corporate Drive
3800Concorde Parkway
4102-4152Pepsi Place
14325Willard Road
4200Technology Court
4102-4152Pepsi Place
4200Lafayette Center Drive
3684Centreview Drive
3635Concord Parkway
15002Northridge Drive
4511Daly Drive
3,397
3,387
4,000
40,360
4,400
2,687
7,150
13,200
10,132
18,872
24,053
13,132
11,547
Real Estate Report—Yearend 2010 17
Industrial/Flex Market Countywide Trends – Leasing Activity
Yearend 2010
Industrial/Flex Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
CHANTILLY, continued
Erin’s Marble & Granite
Chantilly Business Center 4
Fighting Fitness, LLC
Westech 1
Fisher & Son Company, Inc.
Guardsmark, LLC
Parke-Long Center 4
Harvest Chinese Christian Church
Brookfield 3 Condominiums Building B
J. Roberts Investments
Avion Park - Building B
J.B. Hunt
Chantilly Distribution Center 2
JH Millstone, Inc.
Sully Building
JK Commercial, LLC
Westech 1
Joan Izzo Academy of Dance
Brookfield Park Phase 2, Building A
L-3 Services
Sullyfield Commerce Center 2
Mana International Group, Inc.
Sullyfield Park Center 1
ManTech International
Sully Tech Center
Merrifield Vending
Lee Business Center
MG Automotive
Mariah Business Center 2
Mid-Atlantic Tennis Supply
Markey Commerce Center 2
Net 100, Ltd.
Avion Flex Tech III
New Life Christian Church
Anheuser Busch Building
Oberthur Card Systems Faraday - De La Rue Building
P & I Supply
Parke-Long Center 6
Parsons Express
Play and Learn
Westfax Business Center F
Promethiius Global Corporation
Parke-Long Center 3
R.E. Michel
Westfax Business Center F
Sam Auto
Chantilly Business Center 2
Skerl Home Furnishings
Chantilly Business Center 3
Softlayer Technologies
Lafayette Tech Center C
TASC
Northridge @ Westfields, Building V
Temple Beth Torah
Fairtech @ Lafayette B
The Evergreene Companies, Inc.
The Williams Group
Marbrook Centre
Tradition Drywall & Paint
Brookfield Park Phase 2, Building B
14516Lee Road
14310Sullyfield Circle
4291-4309Henninger Court
14120Parke-Long Court
4433Brookfield Corporate Drive
3935Avion Court
3900Stonecroft Boulevard
14101Sullyfield Circle
14310Sullyfield Circle
14231Willard Road
14320-14330Sullyfield Circle
14301Sullyfield Circle
14119Sullyfield Circle
14701-14705Willard Road
14240Sullyfield Circle
4445-4449Brookfield Corporate Drive
3675Concord Parkway
14550Lee Road
4250Pleasant Valley Road
14141Parke-Long Court
4291-4309Henninger Court
4102-4152Pepsi Place
14121Parke-Long Court
4102-4152Pepsi Place
14512-14514Lee Road
14512-14514Lee Road
4050Lafayette Center Drive
15006Northridge Drive
4212Technology Court
3684Centreview Drive
14325Willard Road
4429Brookfield Corporate Drive
1,893
4,188
6,000
3,867
8,785
5,380
27,119
6,750
11,074
8,074
14,978
5,092
1,700
8,800
1,800
4,000
15,986
81,515
95,080
4,273
3,000
8,800
4,154
31,620
1,893
5,417
21,167
31,824
6,998
15,096
7,800
2,462
DULLES
Central Services Heating & Air
IMAT Group, Inc.
Meridian Center
Old Dominion Tile Company
Towerview Commerce Center
Renaissance Park @ Dulles 9
Herring Warehouse
Renaissance Park @ Dulles 9
13849Park Center Road
13970-14002Park Center Road
2869Towerview Road
13970-14002Park Center Road
4,265
17,335
16,160
8,720
MERRIFIELD
Bars by Bud Mepham
2800A-NDorr Avenue
Coffee Partners
2824-2830Dorr Avenue
Five Grapes
Merri-Park Building
8303-8305Merrifield Avenue
Logos
2731Prosperity Avenue
MaxID Corporation
2731Prosperity Avenue
Metropolitan Parking and Transportation
Potomac Disposal Services
2813-2829Juniper Street
Mosaic Tile Company
8400Hilltop Road
NoVA Marble and Granite
Merilee Business Center Phase 5
2814Merrilee Drive
Orthopaedic Foot & Ankle Center
Yorktown Research and Development Cetner
2922Telestar Court
Sushi Co.
2800A-NDorr Avenue
TASC
2817-2821A-HDorr Avenue
The Cleaning Authority
Dewey Warehouse
2937-2995Prosperity Avenue
W.J. Colt & Company
2832Dorr Avenue
18 Real Estate Report—Yearend 2010
1,555
1,243
4,452
8,959
1,638
12,040
1,243
5,200
9,600
1,555
5,300
3,300
2,791
© Fairfax County Economic Development Authority
Industrial/Flex Market Countywide Trends – Leasing Activity
Yearend 2010
Industrial/Flex Leasing Activity – Second Half 2010
Tenant
Building
Address
Square Feet
NEWINGTON/LORTON
AASKI
Public Storage Business Center 1
Adesta, LLC
Public Storage Business Center 2
Airliquide
Kincannon Building
ASC
Gunston Commerce Center C8
ASC
Gunston Commerce Center C6
Avaya Government Solutions
Virginia 95 Business Park 1
B Pothole Free
Chris Rodriguez Installers
Potomac Industrial Center
Custom Envelope Converters
Digiulian Associates
Gunston Industrial Park Phase 1 Building A
Discernment, LC
Dr. Pothole
Northern VA Industrial 14
DRS Technical Services
Gunston Industrial Park Phase 2 Building E
E.J. Walsh, Inc.
Fullerton Square
Enterprise Technical Solutions
TelegraPhase Square Phase 1 Building 2
Fidelity Engineering
Public Storage Business Center 2
Hilltop Sand & Gravel
Backlick Center South 2 Building 2
Information Innovators, Inc.
Fullerton Square
International Global Commerce Distribuidora
Northern VA Industrial 3
Kingdom Seekers International Church
Building 3
Knowledge Capital Financial
Public Storage Business Center 2
Lockheed Martin
Building 4
Lopez Trucking
Hilltop Industrial Park
Moon Cabinet, Inc.
Northern VA Industrial 1
Robert W. McDaniel, Sr.
Northern VA Industrial 14
Sage Management Enterprise, LLC
Public Storage Business Center 2
ServPro
Northern VA Industrial 13
Southland Industries
Newington Park Center 6
Toys a Million
Gunston Industrial Park Phase 1 Building A
U.S. Auto Service
7405-7411Alban Station Court
7426-7432Alban Station Boulevard
7908Kincannon Place
10440Furnace Road
10430Furnace Road
7401-7435Boston Boulevard
7635Fullerton Road
9610Gunston Cove Road
7906Hill Park Court
7000Newington Road
7668Fullerton Road
7300Lockport Place
7001Newington Road
7420Alban Station Boulevard
7240TelegraPhase Square Drive
7426-7432Alban Station Boulevard
8245Backlick Road
7400Fullerton Road
7301-7327Lockport Place
8350Terminal Road
7426-7432Alban Station Boulevard
10505Furnace Road
6831Hill Park Drive
9022TelegraPhase Road
7300Lockport Place
7426-7432Alban Station Boulevard
7406-7408Lockport Place
8538Terminal Road
7000Newington Road
8415Terminal Road
7,231
2,582
6,090
46,187
12,500
14,338
1,800
21,500
3,120
1,840
1,404
2,875
9,121
4,101
2,000
2,942
2,880
4,864
9,307
1,450
3,309
19,392
11,700
2,000
2,179
1,892
5,091
3,000
1,840
4,000
RESTON
Gov Place
The M Group
Reston Business Park 1
Sunrise Technology Park 1
11409Sunset Hills Road
12351-12353Sunrise Valley Drive
1,600
5,451
SPRINGFIELD/FRANCONIA
Aaron Rents/CORT Furniture
All American Black Car Service
PS Business Center B
BWI Movers
Fleet Distribution Center 1
Elite Auto Group
Floral Design
Guinea Road Industrial Center
HA Design Group
Springfield Center Business Park 1
K & W Tires
Northwest Territorial Mint
Kingstowne Center G
Opal Strategic Marketing, LLC
PS Business Center A
Peapod, LLC
Shirley Industrial Centre
R. Bauer Corporation
PS Business Center B
Shenandoah’s Pride
Shred Station
PS Business Center B
Thorsen Construction Company
Bren Mar Center
Universolutions
PS Business Center B
Weitron, Inc.
5720-5724General Washington Drive
5586-5608General Washington Drive
6310Gravel Avenue
5750General Washington Drive
5610Sandy Lewis Drive
6700Springfield Center Drive
6100Farrington Avenue
5775Barclay Drive
5558-5578General Washington Drive
6619-6631Iron Place
5586-5608General Washington Drive
5410Port Royal Road
5586-5608General Washington Drive
5700General Washington Drive
5586-5608General Washington Drive
7950Woodruff Court
14,362
1,206
15,240
2,250
5,952
3,850
12,224
4,234
1,018
10,000
1,381
10,628
1,812
2,655
1,037
5,000
TYSONS CORNER
Dulles Transit Partners
Flippo Construction
International Cellars
L.A. Boxing
Pitcher’s Edge
© Fairfax County Economic Development Authority Tyco Park/BMI Warehouse
Build AmerIca 3
Tyco Park
Spring Hill Business Center
Spring Hill Business Center
8520-8528Tyco Road
8453Tyco Road
8470-8472Tyco Road
1524Spring Hill Road
1524Spring Hill Road
13,050
1,800
1,800
6,250
5,000
Real Estate Report—Yearend 2010 19
Industrial/Flex Market Countywide Trends – Construction Activity
New Industrial/Flex Building Deliveries by Year
Yearend 2010
Industrial/Flex Construction by
Submarket – Yearend 2010
Sq. Ft.
4 mil
3.5 mil
3 mil
2.5 mil
Lorton / 57,600 s.f.
Springfield / 30,000 s.f.
2 mil
1.5 mil
201,306
1 mil
500,000
0
-1 mil
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
-500,000
Industrial/Flex Building Deliveries – Second Half 2010
Project Name
Red Fox Plaza
FedEx Distribution Facility
Address
Submarket
15110 Lee-Jackson Memorial Highway
8561 Cinder Bed Road
Chantilly
Newington
Square Feet
10,929
120,377
Lead Tenant(s)
Speculative
FedEx
August 2010
September 2010
Industrial/Flex Buildings Under Construction – Second Half 2010
Project Name
Gunston Commerce Center Building
Hot Lanes Operations Center
Address
Submarket
10450 Furnace Road
6440 General Green Way
Lorton
Springfield
Square Feet
57,600
30000
Lead Tenant(s)
Delivery
Speculative
VDOT
February 2011
September 2011
Industrial/Flex Building Demolition – Second Half 2010
Project Name
Merrilee Business Center Phase 1 Address
Submarket
2721 Merrilee Drive
Merrifield
Square Feet
25,200
Building Type
Flex
Industrial/Flex Market Countywide Trends – Sales Activity
Yearend 2010
Industrial/Flex Building Sales – Second Half 2010
Building Anheuser Busch Building
Lafayette Technology Center A
Islamic Heritage Center
Hilltop Industrial Park
AMTCO Warehouse
Address
Submarket
Sale Price Square Feet $/S.F.
14550 Lee Road
4030 Lafayetter Center Drive
8817 Telegraph Road
8900 Lee Highway
6831 Hill Park Drive
8100 Alban Road
5261-5263 Port Royal Road
Chantilly
Chantilly
Lorton
Merrifield
Newington
Springfield
Springfield
$6,000,000
$38,425,000
$1,600,000
$3,450,000
$2,050,000
$2,850,000
$3,000,000
81,515
72,383
9,392
23,338
15,985
13,699
26,144
$74
$531
$170
$148
$128
$208
$115
Notable Industrial/Flex Building Sales – Second Half 2010
(Price Per Square Foot)
$531
Lafayette Tech Data Center / Chantilly
8100 Alban Road / Springfield
$208
8817 Telegraph Road / Lorton
$170
Islamic Heritage Center / Merrifield
$170
Hilltop Industrial Park / Newington
20 Real Estate Report—Yearend 2010
$128
The data center at 4030 Lafayette Technology Center Drive
sold to Digital Realty Trust for $531/s.f.
© Fairfax County Economic Development Authority
Industrial/Flex Market Submarket Trends
Yearend 2010
Industrial/Flex Space Inventory by Submarket (Square Feet) – Second Half 2010
Inventory
Annandale
91,450
Baileys Crossroads
318,502
Burke
239,924
Chantilly
9,458,749
Dulles
1,638,186
Fairfax Center/Oakton
43,660
Herndon (Town)
1,154,782
McLean/Great Falls
9,390
Merrifield
2,579,583
Newington/Lorton
10,541,203
Reston
465,775
Richmond Highway
79,366
Seven Corners
35,706
Springfield/Franconia 10,703,053
Tysons Corner
1,072,874
Vienna
452,480
Fairfax County
38,884,683
Absorption
Total
Relet New*
0
0
0
26,935
26,935 0
5,952
5,952 0
608,429 568,561 5,900
46,480
46,480 0
0
0
0
0
0
0
0
0
0
81,267
81,267 0
460,274 393,497 58,777
1,600
1,600 0
0
0
0
0
0
0
154,934 110,734 30,000
29,700
29,700 0
7,353
7,353 0
1,422,924 1,272,079 94,677
Available
Construction Activity
Sublet
Total
Relet
New Sublet Underway Delivered
0
0
0
0
0
0
0
0
25,400
20,900
0
4,500 0
0
0
44,624
5,624
0
39,000 0
0
33,968 1,768,680 1,573,488
81,152 114,040 0
10,929
0
334,215
334,215
0
0
0
0
0
3,840
3,840
0
0
0
0
0
135,124
135,124
0
0
0
0
0
0
0
0
0
0
0
0
233,253
233,253
0
0
0
0
8,000 1,678,724 1,367,779
174,831 136,114 57,600 120,377
0
51,116
51,116
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,200 1,062,012
949,193
0 112,819 30,000 0
0
94,609
94,609
0
0
0
0
0
0
0
0
0
0
0
56,168 5,431,597 4,769,141 255,983 406,473 87,600 131,306
* Includes buildings under construction
Industrial/Flex Lease Rates by Submarket (Per Square Foot) –
Second Half 2010
Industrial/Flex Vacancy Rate by
Submarket – Second Half 2010
Relet Lease Rates
New Lease Rates*
Annandale
NA
NA
Baileys Crossroads $15.00 nnn–$24.00 nnn
NA
Burke
$12.00 ig–$16.00 ig
NA
Chantilly
$5.25 nnn –$20.00 nnn $13.50 NNN
Dulles
$7.00 nnn–$20.00
NA
Fairfax Center/Oakton
NA
NA
Herndon (Town)
$6.50 nnn–$23.00
NA
McLean/Great Falls
NA
NA
Merrifield
$10.50 nnn–$25.00 nnn
NA
Newington/Lorton $6.00 nnn–$16.50 nnn $8.00 mg–$16.00 nnn
Reston
$13.00 nnn–$14.00 nnn NA
Richmond Highway
NA
NA
Seven Corners
NA
NA
Springfield/Franconia $6.00 nnn–$18.50 nnn
NA
Tysons Corner
$9.00 nnn–$23.25 mg
NA
Vienna
NA
NA
Sublet Lease Rates
NA
$15.00 n–$20.00 n
$6.50
$5.00 nnn–$12.50 nnn
NA
NA
NA
NA
NA
$6.00 nnn–$8.75 nnn
NA
NA
NA
$7.75 nnn –$10.00 ig
NA
NA
* Includes buildings under construction
Annandale
Baileys Crossroads
Burke
Chantilly
Dulles
Fairfax Center/Oakton
Herndon
McLean/Great Falls
Merrifield
Newington/Lorton
Reston
Richmond Highway
Seven Corners
Springfield/Franconia
Tysons Corner
Vienna
Fairfax County
Direct
0.0% —
6.6% ▼
2.3% ▼
17.5% ▼
20.4% ▲
8.8% ▲
11.7% ▲
0.0% —
9.0% ▼
14.6% ▼
11.0% ▼
0.0% —
0.0% —
8.9% ▲
8.8% ▼
0.0% ▼
12.9% ▲
w/Sublet
0.0% —
8.0% ▼
18.6% ▲
18.7% ▼
20.4% ▲
8.8% ▲
11.7% ▲
0.0% —
9.0% ▼
15.9% ▼
11.0% ▼
0.0% —
0.0% —
9.9% ▲
8.8% ▼
0.0% ▼
14.0% ▲
NOTE: The lease rates listed above are based on quoted rates of property available on December 31, 2010. It is
important to note that this is just a snapshot of quoted rates at a given point in time and that all rates are subject
to change.
For an explanation of lease rates, see glossary on page 22.
VDOT Hot Lanes Operations Center under construction.
© Fairfax County Economic Development Authority Several industrial and flex buildings in Merrifield have been demolished
over the past three reporting periods to make way for the Mosaic District,
currently under construction.
Real Estate Report—Yearend 2010 21
Using This Report – Glossary and Submarket Map
Glossary
Fairfax County Submarket Map
Absorption
UN
TY
Total: The sum of all reported transactions,
including new, relet, sublet and pre-leasing. This
figure is the total of all leasing activity within the
previous six months.
CO
Great
Falls
Relet: Previously occupied space leased.
7
New: Newly constructed space leased.
Sublet: Leased space, via an existing tenant
and not the landlord.
Town of
Herndon
8
Deliveries
6
Dulles
UD
Office: The total amount of existing rentable
square feet. All buildings, including commercial
condominiums, owner-occupied properties and
single-tenant buildings are included.
Leadership in Energy and Environmental Design
(LEED) is a green building certification system
developed in 2000 by the U.S. Green Building
Council to verify that commercial and residential
buildings are designed, constructed, operated
and renovated in environmentally sustainable
and efficient ways. LEED ratings are Certified,
Silver, Gold and Platinum, which are awarded to
a project based on a 100-point scale. For details,
visit www.usgbc.org.
Leases
Full-Service (FS) Leases: Sometimes referred
to as Gross Rent. This rate includes operating
expenses, common area maintenance (CAM), real
estate taxes and insurance for which the landlord
is responsible. A tenant may pay for increases in
these costs over a base year, which is stipulated in
a lease. Most common for office leases.
Industrial Gross (IG): Base rent includes insurance and real estate taxes with tenant responsible
for increases over this base year. Tenant is also
responsible for the CAM charge.
Modified Gross (MG): Similar to a full-service
lease, but some base services are not included.
Typically, maintenance, janitorial and utilities are
excluded. Covered expenses are controlled by
either a base year or an expense stop. Most
common in medical office buildings or singlestory, multi-tenant buildings.
Net Leases: The tenant is responsible for some
or all of the operating expenses, such as real
estate taxes, insurance, utilities and CAM charges.
Most common for industrial/flex leases. The
primary types of Net Leases are:
• Net (N): In addition to rent, tenant typically pays for utilities.
• Double Net (NN): In addition to rent,
tenant typically pays for utilities and cleaning.
• Triple Net (NNN): Sometimes referred
to as a Pure Net Lease, in which the tenant
is responsible for all or almost all of the
operating expenses, such as utilities, CAM,
real estate taxes and insurance.
22 Real Estate Report—Yearend 2010
5
50
Fairfax
Center
123
16
17
Tysons
Corner
7
Oakton
7
10
28
50
Merrifield
City of
Fairfax
ARLINGTON
COUNTY
14
Seven
Corners
1
29
RONALD REAGAN
WASHINGTON
NATIONAL
AIRPORT
2
Baileys
Crossroads
Annandale
236
29
3
City of
Falls Church
2
1
66
WASHINGTON,
D.C.
McLean
Town of
Vienna
4
66
495
267
Centreville
Industrial/Flex: The total amount of existing
rentable square feet. All buildings, including
commercial condominiums, owner-occupied
properties and single-tenant buildings are
included.
LEED
Chantilly
LO
Inventory
OU
N
Buildings for which a certificate of occupancy
has been issued. This figure is for the previous
six months only.
Reston
Dull
es A
ess &
irport Acc
Tol
l Road
Fair
fax
Cou
nty Parkway
WASHINGTON DULLES
INTERNATIONAL
AIRPORT
MARYLAND
9
12
CITY OF
ALEXANDRIA
3
TOWN OF CLIFTON
1
Burke
2
495
Franconia
95
d
on
m
ich
R
4
Lorton
1
4
4
5
1
123
3
5
Newington
11
2
395
15
PRINCE WILLIAM
COUNTY
1
3
Springfield
y
Hw
13
Mount
Vernon
FORT
BELVOIR
5
6 Dulles
(formerly Oak Hill/Herndon)
7
8
9
10
11
12
13
14
15
16
17
Space Available
Vacancy Rates
Total: Sum of relet, new and sublet available space.
Direct: The direct vacancy rate is total direct available space divided by the inventory. Direct available
space consists of space, new or relet, that is available
directly through the landlord and not a third party
such as an existing tenant. Buildings under construction are not included in this figure.
Relet: Previously occupied available space.
New: Newly constructed available space.
Sublet: Available space, via an existing tenant and
not the landlord. May or may not be occupied.
Under Construction
Buildings where construction has begun as evidenced
by site work such as excavation or foundation
placement. Site grading and demolition of existing
structures do not meet these criteria. This figure is
for the previous six months only.
Sublet: The sublet vacancy rate is the aggregate
of direct available space plus sublet available space
available divided by the inventory. As such, the sublet
vacancy rate will always be equal to or higher than
the direct vacancy rate. Buildings under construction
are not included in this figure.
© Fairfax County Economic Development Authority
FCEDA Resources
In addition to the Real Estate Report, the Fairfax County Economic Development Authority (FCEDA) has numerous resources
available to assist those looking for information about Fairfax County. Publications range from an annual overview of the FCEDA’s
work and achievements to a guide to doing business in the county. All publications are free and most can be downloaded from the
FCEDA’s Web site at www.FairfaxCountyEDA.org. Contact the FCEDA at 703-790-0600 or info@fceda.org for printed copies.
Annual Report
Overview Brochure
Detailed summary of the FCEDA’s activity and Fairfax County’s
business growth during the previous year—including economic
indicators, marketing results and real estate trends. Available in hard
copy and on the FCEDA’s Web site.
Describes aspects that make Fairfax County a prime location for
both domestic and international businesses, including proximity to
Washington, D.C., fiscal standing, business environment, Washington Dulles International Airport, labor force, educational system
and quality of life. Hard copy and Web versions available.
Area Business Reports
Demographic information and other statistics summarized for nine
business submarkets in Fairfax County. Hard copy and Web versions available. Areas covered include:
• Annandale–Baileys Crossroads–Seven Corners
• Centreville–Chantilly–Dulles
Small Business Information
Business Ventures
Quarterly newsletter covering news of interest to small, minority- and
woman-owned businesses. Hard copy and Web versions available.
• Fairfax Center/Oakton–Clifton
Small Business Calendar of Events
• Herndon (Town of)
Web version available.
• Merrifield
• Reston
• Richmond Highway Corridor–Southeast Fairfax
• Springfield–Interstate 95 Corridor
• Tysons Corner
Summary Reports
Overviews, fact sheets and lists providing information on a variety
topics, as compiled by the FCEDA. Hard copy and Web versions
available.
• Associations
Doing Business in Fairfax County
• Chambers of Commerce
Summarizes government regulations and provides guidelines and
reference information on starting and operating a business in the
county. Hard copy and Web versions available.
• Embassy Contacts
• Colleges and Universities
• Emerging Markets – Small, Minority, Veteran-Owned and
Woman-Owned Businesses
Fairfax County Leader
• Executive Office Suites
Quarterly newsletter containing recent announcements, county
statistics, profiles on local firms and FCEDA programs and services.
Hard copy and Web versions available.
• Fairfax County Facts
Fairfax County Profile
• Headquarters Offices
Summarizes topics of interest to businesses. Hard copy and Web
versions available. Sections include:
• Largest Employers
• Federal Procurement
• Foreign-Owned Firms
• Information Resources
• Fairfax County Overview
• Life Sciences Resources
• Business Community
• Local and State Taxes
• Technology
• Primary and Secondary Education
• Demographics
• Procurement for Emerging Markets
• Education
• Technology Firms
• Quality of Life
• Venture Capital
• Health and Community Services
• Wages
• Transportation
• Workforce Services
©2011 Fairfax County Economic Development Authority (FCEDA). The data presented here have been compiled from information provided by commercial real estate owners,
developers, brokers, local periodicals, private businesses and public agencies. Statistics contained within are extremely fluid and subject to change without notice. The acceptance and use of this report by any individual or group is with the understanding that the Fairfax County Economic Development Authority makes no warranties, expressed
or implied, regarding the accuracy, completeness and reliability of the data contained within. It is the responsibility of the user to verify its completeness and accuracy. This free
survey is published biannually, and copies of prior surveys dating from 1980 are available. For more information, visit www.fairfaxcountyeda.org/commercial-real-estate.
© Fairfax County Economic Development Authority Real Estate Report—Yearend 2010 23
Fairfax County Economic Development Authority
8300 Boone Boulevard, Suite 450
Vienna,Virginia 22182-2633
FPO
Printed with EcoSmart inks.
Presorted Standard
U.S. Postage
PAID
Permit No. 6353
Merrifield, VA 22116
8300 Boone Boulevard, Suite 450, Vienna, Virginia 22182-2633 USA
Phone 703-790-0600 • Fax 703-893-1269 • E-mail info@fceda.org • URL www.FairfaxCountyEDA.org
The Fairfax County Economic Development Authority is an independent authority created under state law, operating under the
direction of seven Commissioners appointed by the Fairfax County Board of Supervisors. Its activities are funded by Fairfax County.
COUNTY BOARD OF SUPERVISORS
Sharon Bulova, Chairman • Penelope A. Gross, Vice Chairman
John C. Cook • John W. Foust • Michael R. Frey • Pat Herrity • Catherine M. Hudgins • Gerald W. Hyland • Jeff C. McKay • Linda Q. Smyth
ECONOMIC DEVELOPMENT AUTHORITY COMMISSIONERS
Steven L. Davis, Chairman • Michael Lewis, Vice Chairman
Ronald C. Johnson • Catherine Lange • Mark Lowham • Arhur E. (Bud) Morrissette IV • Sudhakar Shenoy
ECONOMIC DEVELOPMENT AUTHORITY STAFF
Gerald L. Gordon, President and Chief Executive Officer
Robin Fenner, Vice President, Management
Alan Fogg, Vice President, Communications
Catherine W. Riley, Vice President, Marketing
Barbara Cohen, Director, Administration
Rodney Lusk. Director, National Marketing
Jan Mul, Director, International Marketing
Ivy G. Richards, Director, Market Research & Real Estate
Karen Smaw, Director, Small and Minority Business Development
REAL ESTATE REPORT PRODUCTION TEAM
Curt Hoffman, Content
Nate Edwards, Research
David Stinson, Photography
Vicki Reeve, Graphic Design
The Fairfax County Economic Development Authority (FCEDA) assists businesses interested in locating, relocating, or expanding
their commercial office or industrial operations in Fairfax County. FCEDA’s services are free and confidential.
April 2011

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