Home > Research > U.S. Market Reports Detail

U.S. Market Reports

Baltimore Market Reports

Baltimore Office Market

Average Asking Rent (Price/SF) $23.07
Vacancy Rate (%) 12.5%
Net Absorption (SF) -36,188

The Baltimore metro area's office market performed well through the third quarter of 2017, with stable overall vacancy rates relative to previous quarters and rising asking rents. While absorption for the third quarter fell to negative 36,188 square feet, year-to-date absorption for 2017 remains healthy at 695,617 square feet. Asking rents rose by $0.18/SF over the quarter to $23.07/SF. Over the past year, asking rents have increased 2.4%, which demonstrates the market's strong performance over the last four quarters. Overall vacancy for Baltimore's office market at third quarter 2017 was 12.5%, identical to last quarter's total yet 50 basis points higher than in the third quarter of 2016. However, it is worth noting that in the past year, over 1.75 million square feet of new office space has delivered in metro Baltimore, which helps explain the higher overall vacancy rate relative to one year ago.

Baltimore Industrial Market

Average Asking Rent (Price/SF)
                    $5.32
Vacancy Rate (%)                      7.9%
Net Absorption (SF)             1,453,355

Baltimore's industrial market continued to perform well through the third quarter of 2017, experiencing robust absorption, declining vacancy and rising average asking rents. Overall vacancy declined 30 basis points during the quarter, even with the delivery of over 1.2 million square feet of new industrial space in metro Baltimore.



Baltimore Office Market Report
3Q17
Download the PDF
Baltimore Industrial Market Report
3Q17
Download the PDF

Local Market Contact:

General Research Inquiries: