Retail Rent Rises, Industrial Vacancies Plummet: Manassas 2022 Report

MANASSAS, VA — Retail rents rose in 2022 in Manassas, according to a year-end report from the city's department of economic development. Meanwhile, industrial vacancies hit an all-time low.

Several new businesses announced plans to develop facilities in the City of Manassas in 2022. The area also saw new restaurants, remodeled classics, and expanding local businesses.

"Given its location, strong business climate, and skilled workforce, the City of Manassas has long been an employment center for the region – particularly for industrial and manufacturing related activity," the department of economic development wrote in a news release. "2022 saw the City further cement itself as a top location of choice for industrial users, with major economic development announcements that will change Manassas for years to come."

City officials highlighted several high-profile businesses that announced plans to expand in Manassas. Unmanned aircraft manufacturer RapidFlight opened its doors; the business plans to add 119 jobs. Electra, an aerospace company, opened a research and development facility in the city.

Other notable changes included Envision Glass's planned expansion and A. Duie Pyle's new service center. Manassas's vacancy rate for industrial space reached an all-time low of 1.3 percent.

Manassas residents also saw an array of restaurants and other local businesses expand and renovate.

In 2022, Chick-fil-A temporarily closed its doors in Manassas for remodeling. The restaurant completed the renovation later in the year.

Hangry Joes, Checkers, and Roaming Rooster all added restaurants in Manassas in 2022.

An increase in demand, coupled with rising inflation, caused the retail rents to soar. Retail rents ended the year at $26.67 per square foot in Manassas, a 6.5 percent increase over 2021's year-end number.