Northern Virginia Industrial Figures Q2 2026

Across the Northern Virginia industrial market, net absorption in Q2 2026 totaled 274,000 sq. ft. This represents an increase of 216,000 sq. ft. quarter-over-quarter and 71,000 sq. ft. year-over-year. Vacancy settled at 3.8%, an increase of 20 basis points (bps) quarter-over-quarter due to multiple vacant deliveries.

Space under construction totaled 421,000 sq. ft., just more than the square footage that delivered, which totaled 391,000 sq. ft. Average asking rents reached $17.41 per sq. ft. per annum on a triple net basis (NNN), a 2.8% increase year-over-year. Gross leasing exceeded 1.0 million sq. ft. Of note, Hajoca signed a 54,000 sq. ft. new lease in Newington, and Hub Group also signed a 49,000 sq. ft. new lease in Manassas.