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Tenants flocking toward high-quality, Metro-accessible office product along the Silver Line

  • ​Since the Phase I of the Silver Line opened in 2014, tenants have migrated to well-located office buildings situated near the four Metro stations in Tysons and the one Metro station in Reston. A large portion of the new tenant demand has shifted to newer buildings such as Tysons Tower and 1775 Tysons Boulevard, both developments which have attracted tenants from non-Metro accessible buildings. Buildings built since 2014 have posted 1.2 million s.f.of positive net absorption since then, while Class A buildings built before that posted more than 900,000 s.f. of negative net absorption.
  • In Tysons, vacancy for Class A buildings located within ½ mile of Metro decreased 890 basis points since 2014, while vacancy increased 1,250 basis points in Class A buildings that are beyond ½ mile from the Metro.
  • In Reston, Class A vacancy dropped 1,120 basis points for buildings within ½ mile of the Wiehle-Reston East station. Class A vacancy also fell 210 basis points for buildings beyond ½ mile as the scheduled 2020 opening of Phase II of the Silver Line will add three more stations along the Toll Road. However, Class B office buildings beyond a ½ mile from Metro are posting nearly double the vacancy, just below 20%.
  • The shift in tenant demand to Silver Line Metro accessible office buildings as every new office building under construction in Tysons is located within ½ mile of a Metro station.​
Source: JLL Research

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