It would seem the office leasing market in DC, including the submarket in Tysons Center, is headed towards a more optimistic direction. According to a report from crowdsourced real estate firm CompStak, the average starting rental rate in Tysons may have increased since 2012, but as pointed out by Daniel J. Sernovitz of the Washington Business Journal, the region's overall rental rate over the same period has held mostly steady at just under $47 per square foot. This is compared to the rates of DC proper that settle in about $70 per square foot.
There’s more to Tysons Corner than just affordable office rental rates. Not only is it Fairfax County’s business and financial district, Tysons Corner is also being primed by the local government to become a thriving and vibrant downtown area, complete with cost-efficient workforce housing units, ecologically oriented buildings, and energy-efficient public utilities that are a boon to any business owner and employer. If you’re planning on establishing yourself in Fairfax, you should definitely consider renting a Tysons Corner office space, such as those offered in listings by innovative workspace solutions provider, Metro Offices.
The Fairfax County Economic Development Authority would be on their side by providing incentives, from both local and state governments. For example, Virginia has a Jobs Investment Program (VJIB) that subsidizes a company’s recruitment and training expenses provided that they’re engaged in manufacturing, information technology, and research & development (among other things).
Meanwhile, Fairfax County regularly hands out Business, Professional, and Occupational license (BPOL) tax exemptions to software development companies, and to hardware and software sellers to the government and nonprofit organizations. Moreover, Tysons Corner is conveniently located close to the Metrorail system and the Tysons Corner Center, which is the largest shopping mall in Washington, DC, and one of the largest in the East Coast.
Plans for bike lanes and parks in the future are in order, creating an even more accessible and health-promoting environment for workers of all stripes. All these attractive public amenities—along with the presence of enterprise forerunners in introducing prestigious yet affordable Tysons, VA office space locations, such as Metro Offices—draw young professionals and entrepreneurs to the area.
Metro Offices, located in premier locations across Washington, DC, Maryland, and Virginia, is known for creating innovative and cost-effective work space solutions, such as mail and call forwarding services, virtual receptionist and virtual office spaces outfitted with high-speed Internet and top-end communications technology for clients’ use. You can be set up in minutes once you make the call about any of Metro Offices’ virtual office programs that meets your business needs.
(Article Information and Image from Tysons outperforming D.C. in office leasing, Washington Business Journal, November 19, 2013)