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Baltimore Market Reports

Baltimore Office Market

Average Asking Rent (Price/SF) $24.24
Vacancy Rate (%) 12.6%
Net Absorption (SF) 4,013

Baltimore metro office market metrics were stable during the third quarter of 2019, with very modest absorption, an uptick in asking rents and a slight decline in vacancy rate. Baltimore's office market experienced 4,013 square feet of net absorption during third-quarter 2019, bringing the year-to-date total to 141,483 square feet. Asking rents ticked up to $24.24/SF during the third quarter, a 1.8% increase over the past year. Overall vacancy for Baltimore's office market registered 12.6% at the end of the third quarter, up 30 basis points from one year ago as new product gradually reaches the market.

Baltimore Industrial Market

Average Asking Rent (Price/SF)
                    $4.77
Vacancy Rate (%)                       8.2%
Net Absorption (SF)                   39,934

Baltimore's industrial market fundamentals tightened during the third quarter of 2019, although absorption was only modestly positive. The Baltimore industrial market registered 39,934 square feet of net absorption during the third quarter, a sharp decrease from the 1.0-million-plus square feet of absorption registered in the first and second quarters. The overall vacancy rate ended the quarter at 8.2%, a decrease of 10 basis points from the prior quarter and 60 basis points lower than one year ago. The average asking rental rate was $4.77/SF at the end of the third-quarter 2019, slightly higher than the $4.73/SF average from the previous quarter.



Baltimore Office Market Report
3Q19
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Baltimore Industrial Market Report
3Q19
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Opportunity Zones in the Mid-Atlantic
March 2019
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