The Northern Virginia industrial market posted 269,049 sq. ft. of positive net absorption during the fourth quarter, bringing total 2020 occupancy gains in the market to 1.2 million sq. ft. Leasing volume increased for the second consecutive quarter totaling 576,000 sq. ft. in Q4, which brought 2020 total volume to 2.6 million sq. ft. With vacancy levels at historic lows, development activity remains robust as 959,000 sq. ft. of new construction is slated to come to the market, 500,000 sq. ft. of which is anticipated to deliver as early as the first quarter of 2021.