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Baltimore Market Reports

Baltimore Office Market

Average Asking Rent (Price/SF) $22.89
Vacancy Rate (%) 12.5%
Net Absorption (SF) 308,925

The Baltimore metro area's office market continued to tighten during the second quarter of 2017, with sturdy absorption, declining vacancy and rising asking rents. Absorption was 308,925 square feet in the second quarter, comparable to the first-quarter total of 312,953 square feet. Continued sturdy absorption allowed the vacancy rate for Baltimore to decline to 12.5% during the second quarter, down 50 basis points from the 13.0% vacancy rate of the first quarter. This decline came even as Baltimore's office market had 219,000 square feet of space deliver during the second quarter, the third consecutive quarter in which deliveries totaled more than 200,000 square feet. As a result of recent deliveries, the Baltimore office market's standing inventory has increased to 80.5 million square feet, from 78.1 million square feet one year ago.

Baltimore Industrial Market

Average Asking Rent (Price/SF)
Vacancy Rate (%)                    8.2%
Net Absorption (SF)             1,348,693

Baltimore's industrial market in the second quarter of 2017 experienced significant acceleration of absorption, declining vacancy and steady average asking rents. The overall vacancy rate declined 60 basis points during the quarter, even as more than 500,000 square feet of new space delivered.

Baltimore Office Market Report
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Baltimore Industrial Market Report
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