Home > Research > U.S. Market Reports Detail

U.S. Market Reports

Suburban Maryland Market Reports

Suburban Maryland Office Market

Average Asking Rent (Price/SF)    $27.04
Vacancy Rate (%)     16.6%
Net Absortion (SF) -38,096

The Suburban Maryland office market began 2017 with a strong first quarter, thanks in part to tech education firm 2U Inc.'s headquarters relocation and expansion. However, the market took a breather during the second quarter, registering negative net absorption of 38,096 square feet and no change in the vacancy rate. The average asking rent fared well during the second quarter, increasing by $0.43/SF compared with the first quarter. Continuing a long-term flight to quality, the Class A office market performed well during the second quarter, with 64,966 square feet of positive absorption, firming asking rents and a declining vacancy rate.

Washington Metropolitan Area Office Market

Average Asking Rent (Price/SF)      $37.61
Vacancy Rate (%)        16.2%
Net Absorption (SF)    889,196

The Washington metro area's job growth began to taper during the first half of 2017, consistent with the pattern in most other major U.S. markets. The nation is in the mature phase of the economic cycle. The Washington area added 38,000 jobs in the 12 months ending April 2017, slightly below the region's 20-year average of 44,200 jobs per annum. Professional and Business Services is the largest of the region's sectors and makes up 23% of the area's employment base. This sector added 12,800 jobs in the 12 months ending April 2017, or 34% of the total jobs added. Jobs in this sector are high paying and contribute to office demand, so growth in this sector bodes well for continued improvement of regional office market fundamentals.



Suburban Maryland Office Market Report
2Q17
Download the PDF
Washington Metropolitan Area Office Market Report
2Q17
Download the PDF
Washington Metropolitan Area Multihousing Market Report
2Q17
Download the PDF
The Evolution of the Financial Services Industry
June 2017
Download the PDF
Washington Metro Area MegaTrends: A 2017 Update
March 2017
Download the PDF
State Of U.S. Office Leasing Concessions And The Outlook For 12 Major Cities
December 2016
Download the PDF
Scale of Disruption - The Sharing Economy's Effect On U.S. Commercial Real Estate
October 2016
Download the PDF
Political Control - Who Runs Washington and the Impact On Office Space Demand
July 2016
Download the PDF
The Impact of Office Space on Employee Productivity
February 2016
Download the PDF

Local Market Contact:

General Research Inquiries: