Class A Logistics availability fell to 2.9% as its average rent climbed to $6.08 per sq. ft. in H1 2018. The rising rents coupled with the scarcity of supply presents challenges for users while new opportunities for developers.
Logistics employment surpassed its pre-recession peak expanding by 13.8% since 2005 and Virginia's overall employment exceeded 4.0 million earlier this year for the first time in its history.
The Port of Virginia is in the process expanding its capacity by 40% as over 2.84 Million TEUs passed through its gates in the past 12 Months