•The largest leases signed in 2017 were: Northrop Grumman’s 80,564 sq. ft. lease at 14119 Sullyfield Circle (Route 28/Dulles South), ITRenew’s 79,400 sq. ft. lease at 45120 Global Plaza (Route 28/Dulles North), and Argon ST’s 67,220 sq. ft. lease at 8419 Terminal Road (Newington).

•Prince William County continued to experience heavy demand for both flex and warehouse product as compared to the rest of the market. Prince William flex product contributed 125,444 sq. ft. of absorption to the market, and its warehouse product contributed 97,877 sq. ft. of absorption.

•Demand for Northern Virginia industrial space continued to be driven by users seeking less than 40,000 sq. ft. During 2017, 89% of leases signed were for less than 40,000 sq. ft.

•Investment sales volume totaled $82.9 million during Q4. The largest transaction of the quarter was the sale of J/V Digital Realty Trust & Equinix’s 78,000 sq. ft. flex/data center building to QTS Realty Trust for $34.0 million, or $436 per sq. ft.