retail space vacancy rate
Tenants not in need of a visabile retail center or the presence of a multi-story office building are finding flex space to be a cost-effective option. Quality retail space across the Washington, DC area is rarely available. The retail vacancy rate in Maryland, Northern Virginia and Washington, DC is between 4%-5%. Most of the larger chunks of vacancy are in the older centers. Rents for newer retail properties in high traffic areas are in the $50-$80 psf range with some locations seeing rents at or above $100 psf.