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Suburban Maryland Market Reports

Suburban Maryland Office Market

Average Asking Rent (Price/SF)     $27.65
Vacancy Rate (%)       15.8%
Net Absortion (SF)   320,432

Suburban Maryland's office market began 2018 with strong demand, declining vacancy and a growing construction pipeline. Net absorption registered 320,432 square feet during the first quarter, while the vacancy rate dropped 70 basis points from one year ago to 15.8%, a new five-year low. Asking rental rates rose 3.7% from last year to $27.65/SF. Class A fundamentals held steady, with 251,824 square feet of absorption in the first quarter, as the market continued to show a preference for quality.

Washington Metropolitan Area Office Market

Average Asking Rent (Price/SF)        $38.12
Vacancy Rate (%)          16.1%
Net Absorption (SF)   1,074,580

The Washington metro area's economic growth moderated from 2016, whereas office market metrics outperformed 2016. For the 12 months ending in October, the region added 46,400 jobs, down slightly from 2016. This compares favorably to the metro's 20-year average growth of 44,200 jobs per annum. The Washington Leading and Coincident Indices have also started to moderate. This suggests that the current pace of growth will carry into the beginning of 2018, which would lend credence to the consensus of economists who predict that the next downturn will  occur in late 2018 or 2019.

Suburban Maryland Office Market Report
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Washington Metropolitan Area Office Market Report
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Washington Metropolitan Area Multihousing Market Report
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The Apartment Amenities Race
March 2018
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The Evolution of the Financial Services Industry
June 2017
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Washington Metro Area MegaTrends: A 2017 Update
March 2017
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State Of U.S. Office Leasing Concessions And The Outlook For 12 Major Cities
December 2016
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Scale of Disruption - The Sharing Economy's Effect On U.S. Commercial Real Estate
October 2016
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Political Control - Who Runs Washington and the Impact On Office Space Demand
July 2016
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The Impact of Office Space on Employee Productivity
February 2016
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