Description

The Virginia Chapter of the CCIM
Institute is pleased to sponsor this issue
of Virginia Economic Trends and to offer
it in conjunction with our annual
Dominion Directions Conference on
March 22, 2007.
The feature article describes the
commercial real estate market in
Virginia and in each of the state
metropolitan areas. A national outlook for decreasing vacancies and
increasing rents in 2007 bodes well for Virginia’s office markets where
the economy continues to grow at about the same pace as the nation.
Of course, regional economic growth is of great interest to CCIM
members as it drives underlying demand for commercial space. The
remainder of this publication shows the typical variation that one
would expect around the Commonwealth. The Danville and Bristol
metropolitan areas both declined in employment during 2006.
Charlottesville, on the other hand, led the state with 3.2% job growth
in 2006 and Northern Virginia added over 33,000 jobs during the year.
CCIM is proud to be doing business in Virginia which was recently
named by Forbes as the ‘Best State for Business’.