Tech takes over Northern Viriginia office leasing in Q2 2026

Bar chart comparing leased square footage by tenant industry in Northern Virginia for Q2 2025 and Q2 2026. Technology saw the largest increase, rising 236% from approximately 171,000 square feet in Q2 2025 to 575,000 square feet in Q2 2026. Aerospace & defense increased 22% to 274,000 square feet, FIRE (finance, insurance and real estate) increased 23% to 254,000 square feet, consulting/accounting/recruiting increased 32% to 149,000 square feet, and engineering & architecture increased 13% to 157,000 square feet. Law firm leasing declined 56% from about 72,000 square feet to 31,000 square feet, while nonprofits & associations increased 4% to 73,000 square feet. Source: Avison Young Market Intelligence.
  • Northern Virginia’s leasing momentum remains strong going into Q3 2026, reaching 2.86m square feet year-to-date, with activity concentrated in the Toll Road, Tysons and the RB Corridor. Tech companies take up 37% of the leased sf in Q2 2026 which is a 236% increase from Q2 2025. Tech leasing was anchored by major transactions from Peraton, CGI and MircoStrategy, all of which signed leased exceeding 140k+ sf. 
  • Aerospace & defense and Finance, Insurance and Real Estate (FIRE) also remained key sources of demand, each accounting for 17% of leasing activity in Q2 2026 and increasing 22% and 23% from Q2 2025 to Q2 2026, respectively. 
  • Not all industries expanded. Law firm leasing declined 56% YOY, falling from 72k sf in Q2 2025 to 31k sf in Q2 2026, while nonprofits & associations remained relatively flat, increasing 4% YOY.
     

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