Manassas Market Report – 4th Quarter of 2025
Q4 2025 CITY OF MANASSAS MARKET REPORT
Manassas closed out 2025 with continued strength across most sectors. Vacancy rates fell again or stayed consistent in every category except industrial, where a single large listing continues to skew market-wide totals. The vacancy rate across all industries now stands at 4.0%, still well below the Northern Virginia average of 11.47%—underscoring the City’s resilience.
Citywide, asking rent rose to $22.90/sf—up from $22.45 last quarter—while market sales price dipped slightly to $228/sf, reflecting some leveling after record highs. Encouragingly, months on market (6.9), months to lease (4.1), and months vacant (3.8) all dropped—pointing to quicker decision-making and continued investor confidence.
Industrial vacancy increased to 10.4%, up from 5.7% last quarter. However, this shift is largely due to a single building with nearly 200,000 square feet of available space, in a market with limited inventory. In fact, there are currently only nine industrial buildings with any space available—highlighting continued demand and the scarcity of options for industrial users.
Market rent for industrial space rose again to $16.98/sf, while flex space saw strong performance, with vacancy at just 1.55% and market rent hitting a new high of $18.49/sf.
A major milestone this quarter was the opening of CoAspire, a national defense contractor bringing over 25 high-paying jobs to Manassas. This addition expands the City’s base of professional and technical services and signals the continued strength of its advanced manufacturing and aerospace cluster.
Retail remained one of the strongest-performing sectors, with vacancy falling to 2.3% and market rent increasing to $29.15/sf. These metrics reflect high leasing activity and strong consumer spending over the holiday season.
New infill development added to the energy across the City, including Panera Cafe at Signal Hill Shopping Center and the City’s first Chipotle slated for Canterbury Village. New retail anchors like Wonder, Grocery Outlet, and Flame Japanese Hibachi also announced openings at Signal Hill, further boosting one of Manassas’ key corridors.
These additions complement steady downtown foot traffic from First Friday events and nearby residential developments. Retailers continue to benefit from growing rooftops and strong daytime population driven by local employers.
OFFICE MARKET
The office market closed the year on a high note. Vacancy dropped to just 2.0%—the lowest of any commercial category—and market rent climbed to $27.12/sf, continuing its upward trend.
New tenants in Q4 reflect the City’s continued ability to attract small-to-midsized firms:
- Joya Family & Lifestyle Medicine, PLLC launched a holistic, personalized healthcare practice on Liberia Avenue.
- Cascade Insurance Group established a new office on Godwin Drive, offering risk advisory and insurance services across the region.
- Merino Law Office opened in Historic Downtown, bringing legal services into the heart of the City’s professional district.
These wins, paired with consistently low vacancy, suggest Manassas remains a prime destination for growing professional services and owner-occupied office users alike.
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