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Suburban Maryland Office Market Sees Sustained Demand
The suburban Maryland office market saw continued leasing activity in the first quarter of 2026, according to a recent report by Cushman & Wakefield.
Montgomery County led leasing activity with 365,000 square feet, representing 70% of total volume, driven by sustained demand in the Bethesda/Chevy Chase and I-270/Rockville submarkets. Overall, the suburban Maryland region recorded nearly 524,700 square feet of gross leasing activity in Q1 2026, consisting of 391,100 square feet of new leases and 133,600 square feet of renewals.
The University of Maryland’s ARLIS executed a 110,000-square-foot lease at 4400 River Road, which is
expected to start construction later in 2026. GEICO took an additional 21,000 square feet at 7272 Wisconsin Avenue, which brings the building to full occupancy in Bethesda. Average asking rents in Suburban Maryland decreased slightly year-over-year. The Bethesda/Chevy Chase submarket remains the most expensive at $43.09 per square foot, followed by Rock Spring Park at $32.21.
