Winchester is Booming!

According to CoStar, the leading source for Commercial Real Estate data, Winchester has become a development boom town! Office and Industrial sectors are seeing all-time high levels of activity thanks to Amazon’s 1 million–square-foot distribution facility, Navy Federal Credit Union’s expansion and the FBI’s new Central Records Complex in Winchester. CoStar estimates that these three projects will account for 2,000 direct jobs added to the area since 2017.

CoStar offers that “while it’s impossible to draw a direct connection, the correlation between these developments and the spin up of other office and industrial projects seems hard to miss.”


A wave of office construction started in 2017. (CoStar)

“These expansions and openings translate into unprecedented additions to both the industrial and office markets in Winchester. Additionally, Amazon’s distribution hub alongside other national companies fueled historic sales numbers. While most large transactions in the last few years were part of portfolio acquisitions, Winchester’s location and relative affordability continue to attract individual investment.”


An industrial wave started slightly earlier than 2017 with Amazon’s logistics hub. (CoStar)

Winchester’s unique location, along the heavily travelled I-81 corridor, is less topographically imposing than other markets in the region, making construction more feasible. Mountainous terrain often squelches heavier development in similar markets along the Shenandoah Valley. Developable land along the I-81 corridor is still abundantly available in Winchester.


Industrial investment has followed the development wave. (CoStar)

 

 

 

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2019-10-14T13:12:06-04:00