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Baltimore Market Reports

Baltimore Office Market

Average Asking Rent (Price/SF) $23.68
Vacancy Rate (%) 12.6%
Net Absorption (SF) 481,040

Baltimore's office market experienced 588,287 square feet of annual net absorption in 2018, following more than 1.0 million square feet of positive absorption in 2017. Absorption during fourth-quarter of 2018 was positive at 481,040 square feet. Asking rents rose by 1.5% year-over-year to $23.68/SF, the second-highest level recorded in the Baltimore metro area during this cycle. Over the past 24 months, asking rents have increased by 4.4%, demonstrating the appeal of the Baltimore area's office market. Overall vacancy for Baltimore's office market registered 12.6% at the end of the fourth quarter, up 20 basis points from one year ago.

Baltimore Industrial Market

Average Asking Rent (Price/SF)
Vacancy Rate (%)                       8.3%
Net Absorption (SF)                 302,024

The Baltimore industrial market registered 302,024 square feet of net absorption during the fourth quarter, bringing the 2018 annual absorption to 1.0 million square feet. The overall vacancy rate declined 20 basis points to 8.3%, which is 60 basis points lower than it was one year ago. The average triple net asking rental rate was $4.91/SF at fourth quarter 2018, down from $5.20/SF one year ago.

Baltimore Office Market Report
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Baltimore Industrial Market Report
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