Find and Lease Office Space in Alexandria, VA
The independent city of Alexandria lies about eight miles south of Washington, D.C. and across the Potomac River in Virginia. The Potomac River forms the district’s eastern border, with Arlington County to the north and Fairfax County to the south. While available office space is spread throughout the city, Alexandria’s heart is Old Town, where restaurants, theaters, boutiques, and more are clustered just minutes from the waterfront. The convenient proximity to D.C. makes Alexandria an excellent location to attract top talent without paying a premium for office space.
Alexandria Office Space | Lease Data & Trends
According to the Alexandria Economic Development Partnership’s mid-year update for 2017, commercial tenants in Alexandria should expect to pay around $33 per square foot, well below the D.C. office space average of around $60 per square foot. New office buildings often rent at prices 5% higher than existing office space in Class A and Class B buildings.
As more D.C. offices relocate to Alexandria to take advantage of newer office space at a lower cost, the demand for new construction of flex and traditional office spaces continues to rise. Many older buildings throughout the city are being redeveloped into office space as well. Old Town and Carlyle are Alexandria’s most active markets, with vacancy rates much lower than the city average of 16.6%.
What Our Brokers Say about Alexandria, VA
The proximity to Washington, D.C., has a significant influence on Alexandria’s commercial identity. Private contractors to the federal government appreciate the low cost of office space in Alexandria and the Institute for Defense Analyses, the Pentagon Federal Credit Union, and VSE Corporation all have headquarters in the city. More recent Alexandria transplants include the U.S. Patent and Trademark Office and the National Science Foundation.
Alexandria office space is occupied by numerous trade associations, charities, and non-profit organizations with many choosing Alexandria for their national headquarters, such as Good360, United Way, and Islamic Relief USA. Healthcare companies are increasingly absorbing Class B properties.
Getting Around Alexandria
Most available office space in Alexandria is located with convenient access to the Capital Beltway Outer Loop. The Woodrow Wilson Memorial Bridge connects to the Anacostia Freeway, and Interstate 395 runs diagonally from the southwest to the northeast corner. George Washington Memorial Highway, U.S. 1, and King Street are other major routes to access parts of the city.
Commuters can choose from multiple public transit options, including the local DASH system, Metrobus, Blue and Yellow Metrorail lines, VRE, and the Fairfax Connector. Both the VRE and Amtrak intercity services stop at Alexandria’s Union Station.
Old Town is a very walkable neighborhood within Alexandria, but the rest of the city is easier to traverse by bike. The city has nearly 50 miles of bike lanes, shared lanes, and bike trails, providing access all around the city.
Alexandria is near to Ronald Reagan Washington National Airport and about an hour drive from Washington Dulles International Airport, providing multiple options for national and international business travel.
Alexandria Neighborhood & History
Alexandria has historical importance in American colonial history as the hometown of George Washington. Many of the city’s historical attractions were frequented by the founding fathers, including Christ Church and Gadsby’s Tavern. Other attractions in the area include the shops in Old Town, the Torpedo Factory Art Center, plenty of outdoor activities in the parks or on the waterfront, and Alexandria’s growing food scene. A few buzzworthy new spots in the area include Smoking Kow BBQ, Hummingbird, and Lori’s Table, while older favorites include Caphe Banh Mi, Columbia Firehouse, and Don Taco.