The industry's own research.
17 items
This week the Radius+ team took a look at the Richmond VA CBSA. Historical Supply Growth in Richmond VA: Richmond has experienced slow to measured supply growth since 2022, enabling rental rates to trend upward. The region saw strong economic growth from 2019 to 2023, particularly within the healthcare and…
This week the Radius+ team took a closer look at the Augusta-Richmond County, GA-SC CBSA. Augusta continues to grow as part of the broader Sunbelt expansion. The market saw significant supply growth in 2021 and 2022, followed by more moderate additions in 2023. New homes and steady migration have allowed the market…
Newmark's Richmond Industrial Market Overview for first quarter 2026 presents economic and leasing fundamentals for the region's industrial real estate sector. Key findings include a 5.8% vacancy rate (11th-tightest nationally), average asking rents of $8.09/SF with 7.3% year-over-year growth, 1.4 million SF of first-quarter deliveries with 70,000 SF of negative net absorption, 9.4 million SF under construction, and an unemployment rate of 3.6% significantly below the national average of 4.4%.
Northern Virginia's office market recorded new leasing of 530,000 square feet in Q1 2026, down from 1.1 million square feet in Q1 2025, with overall vacancy rising to 24.0% and asking rents reaching $35.81 per square foot on a full-service basis. Class A assets captured 85% of new leasing and 95% of renewals, with Fairfax leading regional activity at 348,000 square feet of new leasing, while net absorption remained slightly negative at negative 27,000 square feet for the quarter.
Richmond's industrial market experienced sustained economic growth in Q1 2026 with major company expansions including Solstice Advanced Materials' $220 million investment and over 300 new jobs announced, while vacancy rose to 4.6% due to delivery of 1.78 million square feet of speculative projects including 700,000 square feet of data center space. Asking rents increased 5.5% year-over-year for warehouse space with Class A product in the mid-$9 per square foot range, and first-quarter leasing activity totaled 860,000 square feet with sales volume at $44.5 million after a strong fourth quarter.
The Richmond Office Market Overview for 1Q26 analyzes the Richmond metropolitan area's office sector, finding that the market experienced 89,000 SF of negative net absorption during the first quarter, ending with a 12.8% vacancy rate while rents increased 2.9% year-over-year to $23.52/SF. Major transactions included the sale of the Cox Road Portfolio (300,364 SF) and the Stony Point Portfolio (357,251 SF), while the region's economy remained strong with a 3.6% unemployment rate significantly below the national 4.4% average and office-using employment at 188,100 employees, 4.4% above pre-pandemic levels.
This is a market report published by Colliers in the first quarter of 2026 covering the industrial sector in Richmond, Virginia. The report includes national geographic context alongside the Richmond-specific market analysis.
Richmond's office market in Q1 2026 showed overall vacancy declining to 11.5% (down 90 basis points year-over-year) with year-to-date net absorption of 119.7K square feet and asking rent at $23.35 per square foot, supported by sustained regional job growth including major expansions from Solstice Advanced Materials ($220 million) and Eaton ($50 million) that added over 300 jobs collectively. CBD Class A lease rates jumped 18.1% year-over-year as vacancy in that segment dropped 320 basis points, while speculative construction remained limited at 93,000 square feet of medical office underway, with redevelopment activity heating up including the Midtown 64 former Genworth campus project bringing over 200,000 square feet of modern office space online.
This is a market report published by Colliers in March 2026 covering the office sector in Richmond, Virginia.
This Cushman & Wakefield report analyzes Richmond, Virginia's multifamily market in Q1 2026, finding that the region experienced sustained job growth with an 18.1% increase in job postings since February 2020 (versus the U.S. average of 13.4%), while overall vacancy decreased 30 basis points year-over-year to 9.2%, effective rents grew 2.0% year-over-year to $1,603 per unit, and the construction pipeline contained 4,425 units under development. Major announced investments included Solstice Advanced Materials' $220 million commitment in Chesterfield and Eaton's $50 million investment in Henrico County, with year-to-date net absorption of 469 units and sales volume totaling $203 million in the quarter.
This is a data-figures report published by CBRE on March 31, 2026, presenting first-quarter 2026 industrial sector metrics for Richmond, Virginia.
This is a first quarter 2026 office sector data report published by CBRE covering Richmond, Virginia and national markets.
Northern Virginia's industrial market recorded 4,526 square feet of net absorption in Q1 2026, extending five consecutive quarters of positive absorption, with vacancy at 4.8% and overall asking rents at $17.23 per square foot. New leasing activity declined to 265,000 square feet in Q1 2026 from over 700,000 square feet in Q1 2025, with warehouse and distribution space dominating 87% of new leasing activity, while overall asking rents eased slightly but remained elevated relative to historical levels.
This is a data figures report published by CBRE on March 31, 2026, presenting first-quarter industrial sector figures for Northern Virginia.
This Cushman & Wakefield market report analyzes Richmond, Virginia's retail real estate market in Q1 2026, covering economy, supply, demand, and pricing across 27 submarkets totaling 79.5 million square feet of inventory. The document finds that Richmond's retail market experienced sustained job growth with 18.1% increase in job postings since February 2020, overall vacancy compressed to 3.4%, asking rents for new development ranged from $42 to $55 per square foot, and sales volume reached $61 million for the quarter including a Hobby Lobby location sale for $9.7 million.
This is a market report published by CBRE in December 2025 covering the data center sector in Northern Virginia as part of a broader analysis of North American data center trends in the second half of 2025. The report addresses the regional market within the context of national trends and includes geography tags for Northern Virginia, Virginia, the Washington-DC area, and Asia-Pacific.
Richmond's multifamily market softened in 2025 with occupancy declining 10 basis points year-over-year to 95.2%, effective rents declining 0.1%, and sales volume reaching $800 million. Hampton Roads exhibited stronger fundamentals with occupancy increasing 70 basis points to 96.5%, effective rent growth of 3.2% year-over-year, and multifamily sales of approximately $1.1 billion, representing a 30.7% increase from 2024.