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Suburban Maryland

Suburban Maryland Office Market

Average Asking Rent (Price/SF)     $28.04
Vacancy Rate (%)       15.2%
Net Absortion (SF)     68,102

Suburban Maryland's office demand picked up slightly in the second quarter of 2019 after absorption was negative in the first quarter. Net absorption measured 68,102 square feet. The overall vacancy rate remained steady at 15.2% during the second quarter, as compared to the previous quarter. Asking rental rates have increased 1.7% over the past year, ticking up to $28.04/SF from $27.56/SF.

Washington Metropolitan Area Office Market

Average Asking Rent (Price/SF)        $39.00
Vacancy Rate (%)          16.2%
Net Absorption (SF)      592,216

Office demand in the Washington metro area was positive during the second quarter, but down from the previous quarter. The second quarter saw 592,216 square feet of positive absorption in the region, topping 200,000 square feet in two of the three substate areas and with positive totals in all three. At 16.2%, the region's overall vacancy rate remained even with that of first-quarter 2019 but was 10 basis points higher than the vacancy rate recorded one year ago.



Suburban Maryland Office Market Report
2Q19
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Washington Metropolitan Area Office Market Report
2Q19
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