Department of Economic Development
City of Manassas
Contact: Nicole Smith, CEcD
Email: nsmith@ci.manassas.va.us

 

FOR IMMEDIATE RELEASE
Date: January 15, 2020

 

Manassas, VA — January 16, 2020 — The Commercial Market Report for the City of Manassas for the fourth quarter of 2019
showed stability and strength through all three commercial market segments – office, retail, and industrial/flex.

In the office market, the City ended the year with a historically low vacancy rate of 3.6%. Driving this impressive number were
affordable rental rates and the City’s pro-business environment, which helped attract new companies to Manassas that included
Quantitative Analytics, Gryphus Enterprises, and MP Copiers.

Defying national trends, the City’s retail market remained strong. Low vacancy and competitive rents – which are far below the
regional average – held steady. Historic Downtown Manassas remained a highly sought-after destination, welcoming three new
businesses (Antiques and Collectibles, Kerbobble and Eva’s Alley) and one expansion (Knock on Wood).

Meanwhile, quality flex and industrial space is nearly fully leased with a vacancy rate of 2.5%.

These strong Q4 2019 numbers bode well for business sector success throughout the City of Manassas through 2020 and beyond.
They are also a reflection of the City’s distinctively favorable business climate, which includes a AAA bond rating, strong community
leadership, flexible regulatory environment, and progressive economic development programs.

The City is thrilled to see its business community flourish, from large employers like Micron and Lockheed Martin to smaller
businesses including the many one-of-a-kind restaurants, homegrown breweries and boutique retail shops that call Manassas home.

About the City of Manassas Department of Economic Development
The City of Manassas fosters economic development through collaborative partnerships, sustainable fiscal management and
supportive City services. The Department of Economic Development (DED) is directly responsible for business attraction, retention,
expansion and tourism initiatives in the City. As a resourceful and collaborative organization, we work in partnership with our key
stakeholders to ensure that we have what businesses need; including a highly educated and technical workforce with access to major
universities and first-class training providers. We take an active leadership role in all that we do, serving as a community builder,
collaborator and agent of economic growth. For help with your business needs please visit: https://choosemanassas.org/ or call
703.257.8882.

 

                                                                                                              – ### –