Strong multi-industry demand reduces availability for the second consecutive quarter
The overall availability rate in the Northern Virginia office market declined by 80 basis points for the second consecutive quarter, finishing Q2 2025 at 23.9%. Nearly 2.0 million square feet (msf) leased, which was a slight decline from the previous quarter, but a more than 8.0% increase from Q2 2024. Tenants primarily targeted higher-end space, with Class A inventory accounting for roughly 80.0% of leasing volume and several of the top 10 deals signed in trophy buildings. Tysons Corner was a hub of leasing activity, with more than 25.0% of Northern Virginia leasing volume occurring in the submarket.