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Baltimore Market Reports

Baltimore Office Market

Average Asking Rent (Price/SF) $23.93
Vacancy Rate (%) 12.6%
Net Absorption (SF) 23,110

Baltimore's office market experienced 23,110 square feet of net absorption during second-quarter 2019, the tenth consecutive quarter with positive absorption. Asking rents ticked up to $23.93/SF during the second quarter, a 1.5% increase compared with the prior quarter. Baltimore's office market has seen modest yet steady rent increases in all but three quarters dating back to second-quarter 2014. Overall vacancy for Baltimore's office market registered 12.6% at the end of the second quarter, up 20 basis points from one year ago as new product gradually reaches the market.

Baltimore Industrial Market

Average Asking Rent (Price/SF)
                    $4.76
Vacancy Rate (%)                       8.0%
Net Absorption (SF)                -785,574

The Baltimore industrial market registered negative 785,574 square feet of net absorption during the second quarter, a change from the last four quarters, which saw positive absorption. The overall vacancy rate increased 50 basis points during the quarter to 8.0%, yet it is 80 basis points lower than one year ago. The average asking rental rate was $4.76/SF at second-quarter 2019, on par with the $4.78/SF average from the previous quarter.



Baltimore Office Market Report
2Q19
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Baltimore Industrial Market Report
2Q19
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Opportunity Zones in the Mid-Atlantic
March 2019
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