Northern Virginia Office Market Report
Northern Virginia’s office market posted 348,852 SF of positive net absorption in 2025 as large tenants began occupying committed space during the second half of the year. Vacancy declined to 21.3% as of year-end, down 90 basis points year-over-year, reflecting limited new supply and improving space utilization across select submarkets. The market was the beneficiary of several notable large leases signed during the fourth quarter of 2025, including The U.S. General Services Administration secured approximately 382,000 SF at the Randolph Building at 401 Dulany Street, and Booz Allen Hamilton taking 310,000 SF at Reston Station. In Northern Virginia, rents averaged $36.93/SF at the end of 2025, an increase of 3.0% since the end of 2024. The market’s development pipeline remains historically low, with only two properties totaling 89,750 SF under construction as of 4Q25.
Download Northern Virginia Office Market Report 4Q25