•  The largest leases signed in Q1 2018 were: Synnex Corp.’s 78,857 sq. ft. lease at 3900 Stonecroft Boulevard (Route 28/Dulles South), A&A Transfer’s 77,725 sq. ft. lease at 22800 Ladbrook Drive (Route 28/Dulles North), and Air Cartage Express’ 36,897 sq. ft. lease at 45180 Global Plaza (Route 28/Dulles North). 

•  While investment sales volume was weak during Q1 relative to historical volume, there are currently 15 industrial properties under contract for a reported total of about $87.8 million set to trade hands during 2018. The largest pending sale is FRP Development’s warehouse portfolio sale to Blackstone, which includes five properties in Manassas’ Patriot Business Center totaling 3.94 MSF, with a reported sale price of approximately $358.9 million, or about $71.30 per sq. ft.

•  Users seeking less than 40,000 sq. ft. of space continue to drive demand in the market, with only three deals above this threshold signed in Q1.