Movin' On Up: Strategies driving Northern Virginia’s growth
Regional economic development leader Victor Hoskins and CBRE’s Cathy Delcoco discuss Northern Virginia’s opportunities and challenges as well as its thriving real estate market.Share these insights from this week’s episode: · Northern Virginia is benefiting from substantial job growth, especially in the technology sector, including AI-related roles. Tech job growth supports demand for office space and housing. · High-quality, amenity-rich office space is seeing strong demand. Tenants are willing to pay a premium for Class A trophy buildings with amenities, despite downsizing due to hybrid work. · Older office buildings are being redeveloped into residential units or data centers. This represents an attractive buying opportunity for nimble investors.