Manassas Market Report – 2nd Quarter of 2025
Q2 2025 CITY OF MANASSAS MARKET REPORT
Q2 continues the year’s momentum with strong demand across all commercial sectors. The City’s business and residential community share the same energy, as evidenced by the 150 business leaders who gathered for the annual Business Appreciation Breakfast and the enthusiastic turnout for the Manassas Shopping Center community conversations on June 3 and 10. The overall commercial vacancy rate remains low at 3.0%, significantly outperforming the 10.5% regional average for Northern Virginia.
Vacancy declined in the retail and industrial sectors, and increased marginally for office and flex. Meanwhile, rental rates continued trending upward in all categories. On average, the City saw a slight increase in vacancy (from 2.9% to 3.0%) and a rise in market rent (from $21.91 to $22.12). The market sales price leveled out to $221/sf from last quarter’s uptick to $243/sf, but still a $2 increase from the $219/sf average in 2024. Months on market also extended slightly to 7.8 from last quarter’s 7.0.
Manassas continues to strike the balance between sustained business growth and community development. From new industrial investments to renewed energy in our retail corridors, Q2 reinforces the City’s position as a business-forward destination.
Vacancy in the industrial sector fell to 4.9%, down from 5.2% in Q1, highlighting continued demand for space. Market rents rose to $16.39/sf, a slight but steady uptick since Q4 of 2024 that reflects the continued appeal of Manassas for manufacturing, distribution, and logistics.
Flex vacancy increased to 1.79% from .87%, though flex rent continued to climb to an all-time high of $17.95/sf.
New developments include Brody Transportation purchasing a nearly 4,000 sf facility at 9151 Liberia Avenue, marking the 45-year-old truck leasing company’s expansion into the City. Construction is also progressing on two AWS data centers at Technology and Dean Drive, each totaling 256,000 sf—further boosting Manassas’ reputation as a tech-ready hub.
Retail vacancy edged down to 2.8% from 3.3% last quarter, continuing a positive trend, while market rent increased slightly to $28.21/sf. Activity across corridors is steady, with revitalization efforts and community engagement events like the Manassas Shopping Center community conversations events increasing opportunity for additional foot traffic.
The June events, intended to build shared vision and momentum toward a vibrant, people‑centered retail corridor on Mathis Avenue, drew over 100 residents—proof of the community’s strong interest in the continued transformation of a key retail gateway.
Office vacancy remained low at 2.6%, though slightly increased from 2.2% vacancy reported last quarter. Market rent climbed to $26.19, a sign of sustained demand.
The second quarter welcomed a new tenant at 9700 Capital Court, Manassas. Gameday Men’s Health celebrated a ribbon cutting with City leadership and Prince William Chamber of Commerce in Suite 101, bringing onsite lab testing and personalized healthcare.
Two additional firms with specialized expertise relocated to Manassas City recently:
- Integrated Access Control Services (IACS) returned to the City, setting up a growing technician and sales team at 10494 Business Center Court.
- Monitoring Technology Inc., previously based in Fairfax, established its new office at 10434 Business Center Court, bringing its industry-spanning monitoring systems expertise to Manassas.
These strategic moves further cement the City’s position as a destination for niche technical firms and professional services.
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