Following a disruptive year in 2020, the Northern Virginia office market continued to record occupancy loss with 968,000 sq. ft. of negative net absorption in Q1 2021, adding to the 909,000 sq. ft. returned to the market during the second half of 2020. Vacancy rose 50 basis points (bps) over the prior quarter to 20.2%, just 70 bps below the market’s peak vacancy level of 20.9% in 2017.