Northern Virginia Contractors Remain Active Amid Downturn

Northern Virginia Contractors Remain Active Amid Downturn 14 May 2020

DC Metro News & Insights

U.S. Defense Budget, up 32% Since 2015, Aligns Historically with Northern Virginia Office Growth

Q1 2020 Contract Awards Remain Unchanged YoY, Keeping Contractor Leasing Steady

75% of Prospective Office Tenants in Northern Virginia Remain Active

90% of Contractors Continue with Office Requirements Despite the Broader Downturn

U.S. Defense Budget Growth Suggests Contracts Will Grow 9% in 2020, Fueling 3 Million sf of Absorption Over the Next 24 Months

 

For more on the virus’ potential #CRE impacts, read the latest briefings on our
Avison Young Resource Center

The spread of COVID-19 and the containment policies being introduced are changing rapidly. While information in the briefing notes is current as of the date written, the views expressed herein are subject to change and may not reflect the latest opinion of Avison Young. Like all of you, Avison Young relies on government and related sources for information on the COVID-19 outbreak. We have provided links to some of these sources, which provide regularly updated information on the COVID-19 outbreak. The content provided herein is not intended as investment, tax, financial or legal advice and should not be relied on as such.

World Health Organization | Government of Canada | US Center of Disease Control and Prevention | UK Government | John Hopkins University COVID-19 Case Tracker