(Arlington,VA) – Amazon announced on November 13 that it has officially designated Crystal City as a location for its second headquarters. The company plans on creating 25,000 jobs with an average wage of over $150,000 in Arlington. The Commonwealth of Virginia will also invest $195 million in infrastructure in the neighborhood. This will transform this neighborhood in Arlington significantly.
“A shift will definitely occur,” says John Eric of John Eric | Trevor Moore and Associates (JETMA). “While it is obvious that shift will be seen in jobs – further strengthening the already strong tech base in Northern Virginia – it will also create a massive shift in the real estate sector in our area.”
JETMA, a leading Arlington based real estate group that operates out of Compass, has been watching conditions and trends in the Northern Virginia market leading up to the announcement. “We were confident that the final announcement would be in our favor and started looking at the impact Amazon has had on the Seattle real estate market,” says John Eric. “We wanted to be prepared. A headquarters of this size and investment will bring to our area unprecedented development and will change the face of both residential and commercial real estate. And, it will come quick.”
The Arlington real estate market has remained consistently strong. In the past six months, JETMA has obtained record sale prices for their clients. Market analysts predict that a shortage of available properties and increased property values and rents will be evident from Amazon’s announcement. John Eric believes that the steady strength combined with the Amazon announcement will charge the market. “Yes,” he says, “we believe that many of our clients, sellers and buyers alike, will be activated by this news. I anticipate the market to become frenetic.”
John Eric and Trevor Moore joined forces and merged their extremely successful groups at Compass Real Estate to create John Eric | Trevor Moore and Associates. With a combined 26 years of experience and sales topping half a billion dollars, they are leaders in the Washington DC metro real estate market.
Based on market share, Compass is ranked the number one real estate firm in Washington DC. Compass utilizes a robust network, which connects buyers and sellers throughout America’s most dynamic markets. With 30 offices across nine regions, Compass is now among the largest owned luxury brokerages in the country’s most vibrant communities.