Northern Virginia Office Market Report
Net absorption for Northern Virginia totaled negative 20,883 square feet during the third quarter of 2025. Vacancy ended the quarter at 21.8%, even with last quarter and down 20 basis points year-over-year. Overall availability registered 22.4% as of 3Q25. The Reston submarket was the beneficiary of several notable large leases signed during the third quarter of 2025. Four of the five largest transactions occurred within the submarket and include Workday Inc. which will be backfilling former Meta space in Reston Town Center and NVR, which will relocate to the Oracle Building. Rents in Northern Virginia averaged $36.54 PSF as of the third quarter of 2025, an increase of 2.1% over the past 12 months. Northern Virginia is the only jurisdiction in the Washington metro area that has experienced a delivery in 2025, with 1880 Reston Row Plaza coming to market during 2Q25 The market’s development pipeline remains historically low, with only two properties totaling 89,750 SF under construction as of 3Q25.
Download Northern Virginia Office Market Report 3Q25