Summer is in full swing in Downtown Manassas and the City’s Historic Heart is stronger than ever! As evidenced by a plethora of new business openings, a full schedule of summer events, and several major redevelopment projects wrapping up, Historic Downtown Manassas is in the midst of an incredible run of activity.

The commercial real estate market shows just how impactful the City’s efforts to the revitalize Downtown Manassas continue to be, with overall vacancy for office and retail space ending the 2nd quarter at 2.4%. Asking rent, which stands at $24.56 per square foot, continues to rise as property values increase and business locations remain in high demand.

Dining and retail space is Downtown’s most sought-after property with no retail locations currently vacant, and asking rent reaching $25.69 per square foot (up 4% year-over-year). Downtown welcomed several new retailers in Fillagreen, a sustainable life products store, and Black Metal Mercantile, a general store concept that opened in the former Knock on Wood space on Center Street. Work redeveloping the former Okra’s space went into full swing this summer as Great Eats Hospitality is preparing two new restaurants in the Gadfly Gastro Pub and Zengo’s, an Asian street food concept.

Office space in Downtown remained in high demand, with occupancy at 94% and asking rents climbing 4.6% since this time last year to $26.33 per square foot. This reflects the desirability of Downtown Manassas for employers looking to take advantage of the City’s walkability, amenities, and central location.

The City of Manassas itself was highly active in Downtown with the ongoing renovation of City Hall. The City also completed its extensive renovations to the Manassas Museum, including new exhibit space, outdoor enhancements, a new facade, and more. The Manassas Museum will celebrate its grand re-opening on July 29^th.

In May, the City finalized its purchase of the Olde Towne Inn as staff and City Council are now exploring various development opportunities for the 1-acre site in the heart of Downtown after soliciting community feedback and assessing the feasibility of various options.