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ADP market report: Alexandria sees office vacancy fall and job retention amid federal relocations
Summary
Alexandria Economic Development Partnership told council that office vacancy fell to about 2.7%, driven by conversions and removals from inventory; ADP credited retention and attraction activity — including HUD and NSF moves — with retaining and adding thousands of jobs.
The Alexandria Economic Development Partnership presented its midyear market report to council during the Feb. 1 meeting, linking economic trends to the upcoming budget calendar. Christina Mindra, ADP vice president of real estate, said office vacancy citywide dropped and attributed the movement to conversion of older offices and the removal of vacant properties from inventory.
Key figures cited: citywide office…
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