Navigating the Manassas, VA Industrial Real Estate Market: A Leasing Guide
The industrial real estate market in Manassas, VA is thriving and presents leasing opportunities for commercial property owners, investors, contractors, and brokers. Known for its strategic geographic location, skilled labor force, and transportation infrastructure, Manassas has become a popular destination for industrial activity.
Manassas, VA is home to a skilled workforce, thanks to the presence of several higher education institutions, including George Mason University and Northern Virginia Community College. This means that businesses can easily find and recruit qualified and experienced workers. The area also hosts numerous training institutions focused on developing industrial and manufacturing skills, making it an ideal place to establish a business.
Manassas, Virginia is known for its thriving commercial district and promising real estate market. Located in Prince William County, it is an ideal location for businesses looking for industrial spaces. Nestled between a major international airport and the US capital, this city offers several advantages for industrial leasing and manufacturing. Are you interested in leasing industrial space in Manassas but do not know where to start?
The industrial real estate market in Manassas, VA is thriving and presents an array of opportunities for businesses seeking commercial properties. From small start-ups to established corporations, there is something for everyone in the industrial space leasing market. Manassas, VA is an ideal location due to its proximity to major metropolitan areas, which makes distributions and the supply of raw materials easier. In this blog post, we will provide you with an overview of the Manassas industrial real estate market and factors that make it a hotbed for industry, leasing opportunities available, and what to consider when leasing industrial space in Manassas.
We will guide you through the factors that make this location great for industrial activity and the leasing opportunities it presents.
Location:
Manassas is strategically positioned in the middle of the East Coast, making it an ideal location for transportation and logistics. It is situated along the I-66 corridor, which serves as a major gateway to The District of Columbia and other major metropolitan areas including Baltimore and Philadelphia. The site of Manassas Regional Airport, the city has excellent air cargo service, with direct flights to Newark, Memphis, and other cities. The state-of-the-art Virginia Railway Express (VRE), which runs from Manassas to Washington DC, further enhances transportation options. Manassas, VA is strategically located and easily accessible to major highways and interstates. Route 66 and the Prince William Parkway are major thoroughfares that connect directly to the interstate system, making it easy for businesses to transport and distribute goods. The city is close to the Dulles Technology Corridor and Washington, DC, which means businesses have easy access to a large and diverse customer base. Properties in Manassas are in high demand due to their proximity to these transportation links, which make it easier for entrepreneurs to distribute their products to various markets easily.
Additionally, the region is near Dulles International Airport and the Port of Virginia, which allows companies to import and export goods easily.
Skilled Labor force:
Manassas has a highly skilled workforce, thanks in large part to the region’s many universities and tech colleges. Northern Virginia Community College is an academic powerhouse that offers industrial-focused certificate courses in electrical power systems technologies, programmable logic controls, and civil engineering technology. George Mason University has majors in mechanical, electrical, and civil engineering, and has developed specializations in information technology and biotechnology. With access to such highly skilled workers, businesses that lease space in Manassas are better positioned to thrive in the long term.
Potential Leasing Opportunities:
Manassas VA, having a vibrant economy, offers industrial space in diverse sizes and lease options. The average asking rates are $8.4 per square foot (NNN) for warehouse space and $11.5 per square foot (NNN) for flex space. Depending on specific needs and goals, areas like Innovation Technology Park, Wellington Business Center, District at Bull Run, and others offer leasing opportunities that fit your goals and objectives. Bear in mind that there are zoning laws to consider, making it important to collaborate with professionals to understand available and suitable leasing options.
What to Consider when Leasing Industrial Space in Manassas:
When leasing industrial space in Manassas, it is crucial to consider essential factors such as the lease terms, size of the space, the condition of the building, and accessibility. To avoid leasing surprises, ensure you investigate the lease terms to understand any renewal options, add-on expenses, or penalties. Size of the space and the building condition play a significant role, especially if you need a customized layout or equipment additions needed for the space. Lastly, accessibility concerns how easy it is to access the space by truck, rail, or air via Manassas’s transportation hubs.
Available Industrial Space:
Manassas is home to a variety of industrial properties for lease, from manufacturing units to distribution spaces. Whatever your leasing needs are, you will likely find a space that meets your requirements. The area boasts of a mix of small and large industrial parks that cater to various industries such as logistics, manufacturing, and more. The cost of leasing an industrial space in Manassas, VA, is lower than compared to neighboring locations, which makes it an ideal place for businesses.
Business Climate:
Manassas is known for its pro-business climate, making it easy for businesses to set up shop. Plus, the city provides a host of incentives to attract businesses in the area, such as tax credits, improving infrastructure, and streamlined zoning and permitting processes. These incentives push the industrial market in Manassas and support businesses to grow while investing in the area.
Property Management:
Finding the right property management company is key to managing an industrial space. A good property manager will ensure that industrial spaces run efficiently, enabling tenants to focus on running their businesses. Many property management companies in the area offer services like maintenance, accounting, and leasing. Do your research and find a property manager that meets your specific needs.
Commercial Brokers:
Navigating the industrial real estate market can be challenging, and that’s where commercial brokers come in. They have the expertise and experience to assist you in finding the right industrial space for your business. They offer guidance on factors such as zoning restrictions, lease agreement terms, financing and offer insights that will help you make a well-informed decision.
Availability of Land and Space:
The city of Manassas and Prince William County have undertaken initiatives to create ample space for businesses. The county encourages the development of commercial property through incentives, making it easier for developers and property investors to build and lease industrial properties. Several well-developed industrial parks and sites are available for lease in the region.
Affordable Leasing Rates:
Manassas, VA offers competitive leasing rates compared to the surrounding DC metropolitan area, making it more affordable for tenants to secure industrial space. While leasing rates have been gradually increasing, the region remains a cost-effective option for businesses seeking to lease commercial property.
Diverse Industry Clusters:
The Manassas, VA industrial market features a mix of industry clusters, making it an attractive location for businesses looking for flexibility and interactivity. The region hosts a range of industries, from food and beverage production to high-tech manufacturing. This means that businesses have access to diverse resources and markets, making it easier to establish and grow their businesses.
Conclusion:
Navigating the industrial real estate market of Manassas, VA becomes an easy task when you have a robust guide to follow. As you search for industrial space leasing opportunities in this area, keep in mind the strategic geographic location, skilled labor force, extensive transportation infrastructure, and leasing opportunities available. To make the process smooth, consider essential factors such as lease terms, size, building conditions, and accessibility for transportation networks. By doing this, you will become more knowledgeable of the Manassas, VA industrial real estate market and more likely to make informed leasing decisions that will benefit your business. Manassas, VA is an excellent location for companies seeking to lease industrial space. Its prime location and accessibility, the availability of industrial land and space, affordable leasing rates, a skilled workforce, and diverse industry clusters make it a prime destination. For property owners, contractors, investors, and commercial brokers, this guide offers insights and tips to help navigate the industrial real estate market in Manassas, VA. Manassas, VA is an excellent location for industrial leasing and an ideal place for businesses to expand and grow. From location advantages to available industrial spaces, the area provides everything a business owner needs to succeed. When it comes to leasing industrial space in Manassas, it is essential to find a property management company that understands your needs and has a great commercial broker to help you navigate the market. With this guide, you are one step closer to finding the ideal industrial spot in Manassas, VA. We hope that this guide inspires you to take advantage of the leasing opportunities available in this bustling city.
