As a part of Hampton Roads, the Greater Williamsburg area offers a variety of real estate options.
According to the 2010 Old Dominion University Real Estate Market Review and Forecast, the Hampton Roads industrial market boasts close to 109 million square feet in nearly 2,900 buildings throughout the region. This is an increase of 4.3 million square feet, or 4.1% from the 2009 survey.
JCC accounts for 5.4 million square feet of industrial space in 29 buildings with a 7% vacancy rate. The average rental rate is $5.21 per square foot.
Hampton Roads contains over 23 million square feet of office space with a vacancy rate of 14.5%.
JCC has an inventory of office space of 1.5 million square feet of 178 buildings with a 19% vacancy rate. The average rental rate is $16.81 per square foot.
Total Inventory |
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Period |
# Bldgs |
Total RBA |
Total Vacant SF |
Total Vacant % |
2010 2Q |
439 |
10,596,024 |
900,534 |
8.5% |
2010 1Q |
438 |
10,588,758 |
859,746 |
8.1% |
2009 4Q |
438 |
10,588,758 |
837,958 |
7.9% |
2009 3Q |
437 |
10,578,508 |
860,447 |
8.1% |
2009 2Q |
433 |
10,494,513 |
786,817 |
7.5% |
2009 1Q |
432 |
10,480,518 |
739,459 |
7.1% |
Industrial/Flex Inventory |
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Period |
# Bldgs |
Total RBA |
Total Vacant SF |
Total Vacant % |
Total Average Rate |
2010 2Q |
62 |
5,370,485 |
363,888 |
6.8% |
$5.21/nnn |
2010 1Q |
62 |
5,370,485 |
345,888 |
6.4% |
$4.81/nnn |
2009 4Q |
62 |
5,370,485 |
363,688 |
6.8% |
$4.63/nnn |
2009 3Q |
62 |
5,370,485 |
395,429 |
7.4% |
$6.04/nnn |
2009 2Q |
62 |
5,370,485 |
337,829 |
6.3% |
- |
2009 1Q |
62 |
5,370,485 |
317,829 |
5.9% |
- |
Office Inventory |
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Period |
# Bldgs |
Total RBA |
Total Vacant SF |
Total Vacant % |
Total Average Rate |
2010 2Q |
179 |
1,557,817 |
292,730 |
18.8% |
$17.07/fs |
2010 1Q |
179 |
1,557,817 |
290,779 |
18.7% |
$17.47/fs |
2009 4Q |
179 |
1,557,817 |
296,451 |
19.0% |
$17.57/fs |
2009 3Q |
179 |
1,557,817 |
298,368 |
19.2% |
$18.32/fs |
2009 2Q |
175 |
1,473,822 |
222,984 |
15.1% |
$18.51/fs |
2009 1Q |
174 |
1,459,827 |
196,696 |
13.5% |
$18.42/fs |
Retail Inventory |
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Period |
# Bldgs |
Total RBA |
Total Vacant SF |
Total Vacant % |
Total Average Rate |
2010 2Q |
198 |
3,667,722 |
243,916 |
6.7% |
$19.91/nnn |
2010 1Q |
197 |
3,660,456 |
223,079 |
6.1% |
$19.54/nnn |
2009 4Q |
197 |
3,660,456 |
177,819 |
4.9% |
$14.89/nnn |
2009 3Q |
196 |
3,650,206 |
166,650 |
4.6% |
$15.55/nnn |
2009 2Q |
196 |
3,650,206 |
226,004 |
6.2% |
$15.34/nnn |
2009 1Q |
196 |
3,650,206 |
224,934 |
6.2% |
$14.64/nnn |