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Virginia Industrial Markets Emerge From Pandemic Among Tightest in the US

Space Availability Rates in Richmond, Norfolk and I-81 Corridor Are All Under 5%
Amazon has invested heavily to build out its distribution network in Virginia, including this 1 million-square-foot distribution center 80 miles northwest of Washington, D.C., in Clear Brook. (Tyler Priola/CoStar)
Amazon has invested heavily to build out its distribution network in Virginia, including this 1 million-square-foot distribution center 80 miles northwest of Washington, D.C., in Clear Brook. (Tyler Priola/CoStar)
By Adrian Ponsen, Michael Cobb
CoStar Analytics
May 17, 2023 | 8:12 P.M.

The port cities of Los Angeles; Newark, New Jersey; and Savannah, Georgia, have garnered the most headlines out of all the major U.S. distribution hubs during the pandemic due to their surging import traffic and industrial rents. Meanwhile, cities across Virginia have quietly emerged with some of the tightest industrial markets in the nation, a position they will likely maintain over the next several months even as the country approaches a potential recession.

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