Intelligence

Regional Summaries

Select a state to view available market snapshots

Suburban Maryland

Apartment
Vacancy remained low in the 163,118-unit Suburban Maryland apartment market. The first quarter 2017 vacancy rate was 3.6%, down 30 basis points from the prior quarter and down 50 basis points from one year earlier. The rate is 3.6% as of April. The average asking rent and the average effective rent posted 0.4% and 0.3% gains in the first quarter of 2017 to $1,505 and $1,457 per month, respectively, which were up 2.5% and 2.4% over the year. April 2017 data show 0.3% and 0.2% gains for asking and effective rents.
Industrial
Continued positive net absorption helped Suburban Maryland’s 37.6-million-square-foot warehouse/distribution market post a drop in vacancy. The first quarter 2017 rate of 10.1% is down 60 basis points for the quarter and down the same amount year-over-year. The April vacancy rate is 9.5%. Reis reports average asking and effective rents increased 0.3% and 0.4% in the first quarter to $7.81 psf and $7.21 psf, respectively. These rates are up 1.3% and 1.7% year-over-year. Asking and effective rents rose 0.3% and 0.1% in April. The 20.1-million-square-foot Flex/R&D market’s first quarter 2017 vacancy rate was down 70 basis points from the prior quarter to 10.2%. The first quarter rate is down 50 basis points over 12 months. The first quarter of 2017 asking and effective rents, at $11.65 psf and $10.63 psf, are up 0.3% and 0.2% for the quarter, and up 1.1% and 1.2%, respectively, for the year.
Office
Vacancy rose slightly in Suburban Maryland’s general purpose, multi-tenant office market. The first quarter 2017 rate of 17.4% was up 20 basis points from the prior quarter and up 40 basis points over 12 months. The April rate is 17.5%. Reis reports average asking and effective rents of $29.20 psf and $24.01 psf for the first quarter of 2017, both down 0.2% for the quarter, and up 0.7% and 0.8%, respectively, for the year. Asking rents rose 0.1% in April.
Retail
The Suburban Maryland community-neighborhood shopping center market saw a slight increase in the vacancy rate in the first quarter of 2017. The first quarter’s 7.7% vacancy rate is up 10 basis points for the quarter but down 30 for the year. The rate is 7.7% in April. Reis reports average asking and effective rents for community-neighborhood center space at $26.45 psf and $23.51 psf, respectively, both down 0.2% for the quarter. These rates were up 0.7% and 0.9% over the year.

More from our Local Market Experts About MD

Source: Data provided by Reis, inc.

Commercial Real Estate Market Information

Coldwell Banker Commercial has commercial real estate market statistics to help you find out more about your local commercial real estate market. Whether you are looking for commercial real estate market trends or information on a commercial real estate markets size, we have the commercial real estate market reports you need.Get the information you need to make wise commercial real estate decisions by checking out our commercial real estate market reports. If you did not find the commercial real estate market information you were looking for contact us today!

White Papers

 

     

Additional Resources