February 29, 2024 - Sejal Naik
Economic forecasts for 2021 have been scaled back as a result of the Delta variant. However, there are several bright spots in the state’s commercial real estate market, including the very strong industrial segment of the market. Some trends, such as remote work, appear to be more entrenched now than they were six months ago. Other practices adopted by businesses, such as enhanced delivery and localized supply chains, likely also will persist even as the pandemic recedes. These long-term changes will impact the types and amounts of commercial space needed and the overall trajectory of commercial real estate markets across Virginia.
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