In a briefing described by one County Board member as sobering, Arlington officials said they believe the best-case economic-development scenario for the county is to “slowly and steadily” reduce record office-vacancy rates.
But even that relatively modest hope could face headwinds, with new employment patterns, increased competition from other jurisdictions and the federal government angling for cheaper leases all conspiring against what had once been Arlington’s main selling point: its central location.
Arlington’s combination of high vacancy rates and high average rents is “not a good place” to be in, said Arlington Economic Development chief Victor Hoskins during an Oct. 18 briefing with elected officials.
