Fairfax County: One of the Best Business Districts in the World
Fairfax County is known to have a thriving business district as well as a wonderful place to enjoy life. Located just outside of Washington D.C., Fairfax County offers an affordable alternative to residents. Residents can enjoy less traffic, affordable housing, start a family or even establish their own business. Fairfax County is a world-class business center with a high quality of life. Whether you prefer a bustling urban center or suburbia, Fairfax County is an ideal place to incorporate. In fact, major corporations like Booz Allen Hamilton, Northrop Grumman, NVR, General Dynamics, Capital One, SAIC and Freddie Mac, are headquartered within the Virginia county. Not only is Fairfax home to government, health and financial services, but it’s also well-known in the tech and creative worlds. All in all, Fairfax is known for being a strong place to grow a business, regardless of the industry.
What Is a Business District?
The central business district (CDB), is a geographic location with important locations tied into the city and regional planning. Oftentimes, a CDB is referred to as a downtown. Moreover, CDBs are typically districts of important cultural or historical value and have unique brand identities.
Business districts host concentrated commercial activities, and have denser populations than suburbs. In some cases, the CDB might be referred to as a financial district, but this might not be the case in every city. In Fairfax, the CDB is considered a walkable downtown.
Aside from office space, the city center also has a number of county parks and shopping. The historic city center, or downtown, is located close by to George Mason University. The City of Fairfax, and surrounding areas of the county, have exciting museums, restaurants and programs for visitors and locals alike.
What is the Largest CBD in the World?
Manhattan in New York City is often considered the largest central business district in the United States if not the world. The largest cities in the world often have the largest business districts, like Tokyo, Paris, Shanghai and London.
The world’s largest city centers include:
- Marunouchi in Tokyo
- Paris La Défense
- City of London’s Canary Wharf
- New York Midtown
- Hong Kong
- The Chicago Loop
- Los Angeles
- San Francisco
- Bankenviertel, Frankfurt
- Bandra Kurla Complex in Mumbai
Tysons in Fairfax County, which is one of the U.S.’s largest suburban business districts, is also well-known for its shopping and food. The central business district is also known as Tysons Corner. Once the Tysons Corner Center shopping mall was established in the late 1960s, the city rapidly grew. Today, the CDB houses many technology and consulting firms as well as the largest concentration of retailers outside of D.C.
Recent commercial property data shows that Tysons, Virginia, has the largest suburban submarket in the Washington D.C. area. With an astounding 28.3 million square feet of office space, Tysons is the seventh-largest office submarket in the entire nation.
Why Is Fairfax County One of the Best Business Districts?
To many, Fairfax County is synonymous with innovation. The Fairfax area has been a trailblazer for new businesses and digital transformation. Additionally, the main downtown has the attractiveness of global business districts.
Moreover, the region’s proximity to Washington D.C. provides easy access to professional services. Because of this, the region is ideal for a variety of workplaces and businesses. Whether your business is within the financial services industry or healthcare, the Fairfax County region can help win the success of your company.
In fact, many companies have found success within the Fairfax County area. Take the Inova Health System, which is located in Falls Church. Inova Health System gives world-class healthcare to the area with a full-service approach to the region. As a result, they’ve made Fairfax County one of the best in the nation for childcare and healthcare.
High Concentration of Offices
Fairfax VA has an attractive real estate market with opportunities for businesses. Within Fairfax County alone, there are more than 119 million square feet of office space. In the metro D.C. area, Fairfax has the largest suburban office market in the area.
Unlike other areas, office space in Fairfax County is diverse, just like the business that is conducted here. Aside from traditional office settings, the region offers alternative office spaces and the current number is growing. Already, Fairfax has 39 million square feet of flex and industrial space; and, 2.7 million square feet of office space are being constructed.
Altogether, Fairfax County has a high concentration of office space. The region’s full range of commercial real estate options and accessible transportation sets it aside from other business districts on the eastern seaboard.
Exceptional Land Value
As you can see, the Fairfax region has exceptional land value. As the second-largest suburban office market in the U.S., it offers a variety of investment opportunities and office spaces. Housing alternative, flex and industrial spaces, it’s a wonder real estate prices within the Fairfax County market are still competitive. Moreover, with continued urban development planned, the central business district and surrounding areas are expected to grow.
Presence of High-End Retail
The Tysons Corner Center first opened its doors in 1968, immediately ranking among the region’s big shopping centers. What was once a field for cow grazing transformed into a booming suburban area.
In just fifty years, the shopping center has doubled in size due to its redevelopment. Today, the Tysons Corner Center is 2.4 million square feet, making it the largest mall in Virginia. More surprisingly, the shopping center ranks as one of the largest 10 shopping malls in the country.
Fairfax, VA, is driven by connectivity by a large-scale network of railroads, airports and highways. The region’s robust infrastructure and regional transit system connect people from around the D.C. area and beyond, drawing in large numbers of exceptional workers.
Presence of Major and International Businesses
Fairfax County is the headquarters for more than half of the major employers within the area. Even though it is notable within the tech industry, this global business destination attracts companies from all sectors of business. In fact, the region includes some of the largest employers within the state, according to reports by Forbes, Fortune, and Inc.
The county’s connectivity with major North America cities like Boston and Manhattan, and fast travel between major global cities like Hong Kong and Sydney, this region of the east coast is ideal for international companies looking to invest in a long-term business headquarters.