Exploring Virginia’s Data Center Infrastructure. Northern Virginia is considered the preeminent data center market in North America, and the area’s record low vacancy has put a spotlight on the state’s regional markets. In this first installment of a two-part report, we look at the factors that allow Virginia to compete as a global data hub.

Building the World’s Next NoVA. Northern Virginia is home to the world’s largest concentration of data centers and hosts more than 70% of the world’s internet traffic, but the region is running out of capacity. With vacancy rates at less than 1%, the heightened demand from data center users will be forced outside of NoVA, and the Fredericksburg region – where land is still plentiful and available at a fraction of the cost – is the next logical step.

The Roanoke Renaissance. Set against the backdrop of the Blue Ridge and Alleghany mountains, Roanoke combines the benefits of livability with the access of a major metropolitan market. With pad-ready sites primed for development, Roanoke is creating an innovation hub and is prepping for the next wave of growth.

The Year in Commercial Real Estate. We look back at the 2023 industry highlights in our Virginia markets. Financing constraints have dominated national headlines, and while Virginia has not been immune to the slowing capital, the year has been another active one. Review the highlights from each of Thalhimer’s markets.

All Roads Lead to the Port. The Port of Virginia is building the most modern gateway in America and is making record-setting investments to create a premier logistics ecosystem. 

The Active Office Rebound. Richmond’s office market activity rose in 2023, and the total number of requirements tracked by our office group rebounded to 65% above pre-pandemic levels. With job recovery nearing 100%, that trend is forecast to continue. 

Big Data’s Big Number. Virginia is home to the world’s largest concentration of data centers, an industry that contributed more than $54 billion to the state’s gross domestic product between 2017 and 2021. Our most recent report highlights where we think big data development will be focused next.

Richmond Retail Running Hot. Richmond’s retail market is known to run hot, and 2023 has been no exception with overall vacancy hitting historic lows. Read our latest retail market reports for more.