At a time when cities from D.C. to San Francisco are grappling with historically high vacancy rates, Fairfax City is feeling pretty good about the rising demand for its commercial space.
General commercial vacancy rates have dropped from 6.6% at the beginning of 2023 to 6% in the third quarter, Fairfax City Economic Development (FCED) — a partnership between the city’s economic development office and the Fairfax City Economic Development Authority (EDA) — reported last week.