Office leasing activity in Northern Virginia, particularly in Reston and Herndon, has improved. Recent reports indicate that vacancy rates in these submarkets are at their lowest levels since 2020, suggesting that demand for well-located, functional office space is slowly returning.
While remote and hybrid work models continue to affect overall demand, targeted leasing and tenant renewals are helping stabilize select office corridors.
Takeaway: Not all office is struggling. Submarket and asset quality matter more than ever.