Office Market

Strong Tenant Mix Amidst Federal Changes

Q2 office vacancy has declined to 22.8%, slightly below Arlington County's overall vacancy rate of 23.5%, thanks to a surge of new, renewed, and expansion leases of tech and innovation companies following the Q1 launch of the National Innovation Quarter. The area has seen over 100 new and renewed office leases within 1.5M SF of office space following the arrival of Amazon's HQ2 in 2023. 

Recent investments in the area's aging office stock have resulted in a mix of quality spaces ranging in size and affordability that can accommodate start-ups, mid-size companies, and established anchors in National Landing's highly accessible and amenitized neighborhoods. Average base rent for all classes remains stable at $37/SF, slightly more affordable than surrounding districts.

Data update frequency: quarterly
Updated: July 2026

Office Market Trends

    Source: CoStar, 2026

    Class A Office Space

    71%

    Source: CoStar, 2026

    • 14.2M
      SF existing office
    • 4.6M
      SF planned office

    Office Vacancy (all classes)

    Q2 2026

    • 22.8% Vacancy
    • -1.7% Quarter-to-quarter
    • -0.9% Year-over-year

    Source: CoStar, 2026

    Share of Office Leases Since Q3 2023

    1.5 M SF Leased

      Source: CoStar, 2026

      Base Rent per SF (all classes)

        Source: CoStar, 2026