Suburban Maryland Office Figures Q2 2026

After three consecutive quarters of positive net absorption, the Suburban Maryland office market recorded occupancy loss of 84,000 sq. ft. in Q2 due to several large tenants moving operations out of the market. The impact to net absorption was alleviated by several leases signed by tenants entering the market for the first time, as well as several other tenants that added additional office space to their portfolios. As a result, year-to-date absorption for 2026 narrowly remains positive at just under 5,000 sq. ft. of occupancy gain. The largest lease of the quarter was a 32,400 sq. ft. renewal by Access Intelligence at 9211 Corporate Boulevard in the North Rockville submarket.

In turn, vacancy rose to 21.6% market wide, an increase by 10 basis points (bps) from the previous quarter. Despite the rise in vacancy quarter-over-quarter, this mark still signifies a decrease of 30 bps year-over-year indicating stability in the market in the years coming out of the pandemic.