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Regional Summaries

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Baltimore, MD

Apartment
The development boom reached its sixth year in the 157,825-unit Baltimore apartment market, but despite 15,130 units added from 2012 to 2017, the vacancy rate ended the latter year at just 3.7%. That was down 20 basis points over the year on 1,756 units of new supply and 1,900 units of net absorption, though up 20 basis points in the fourth quarter. The vacancy rate was still 3.7% in January 2018. Rents are rising as expensive new units hit the market but so are concessions. During 2017, the average asking rent was up 3.0% to $1,226 per month, but the average effective rent was up just 1.8% to $1,182 per month, and each measure slipped a dollar during the fourth quarter. Overall rents were up 0.4% by both measures in January 2018. VIEW APARTMENT LISTINGS >
Industrial
The 150.9-million-square-foot Baltimore warehouse/distribution market had another huge year, with nearly 3 million square feet of new supply and 3.94 million square feet of net absorption. The vacancy rate was unchanged for the quarter but down 80 basis points over the year to 8.6%. The average asking rent increased 2.2% in 2017 to $5.54 psf, with the average effective rent up 2.4% to $5.21 psf. The fourth quarter gains were 0.7% and 1.0%, respectively. Warehouse/distribution vacancy and rents were flat in January 2018. The 34.1-million-square-foot Flex/R&D market is active as well here, with 102,000 square feet of new supply and 171,000 square feet of net absorption in 2017. The vacancy rate fell 20 basis points over the year to 11.9%, the average asking rent increased 1.6% to $9.53 psf, and the average effective rent rose 1.8% to $8.69 psf. During the fourth quarter, the vacancy rate fell 30 basis points and rents rose by 0.5% asking and 0.6% effective. The rate was down another 10 basis points in January 2018 with the asking rent unchanged and the effective rent up a penny. VIEW INDUSTRIAL LISTINGS >
Office
The 64.9-million-square-foot Baltimore general purpose, multi-tenant office market struggled in 2017, as just 176,000 square feet of net absorption was not enough to offset 868,000 square feet of new supply. The vacancy rate increased 90 basis points over the year and 10 during the fourth quarter. The overall vacancy rate was essentially unchanged in January 2018 at 16.8%. During 2017, the average asking rent increased 1.8% to $24.71 psf, with the average effective rent up 1.7% to $19.99 psf. This included a gain of 1.0% by both measures for the fourth quarter. Overall rents were flat in January 2018. VIEW OFFICE LISTINGS >
Retail
The 37.5-million-square-foot Baltimore community-neighborhood shopping center market had a very positive year in 2017, with 489,000 square feet of new supply, 541,000 square feet of net absorption, and a vacancy rate that fell 30 basis points to a moderate 7.1%. The rate was down 10 basis points in the fourth quarter. Rents were relatively strong during the year. The average asking rent increased 3.4% to $24.06 psf, with the average effective rent up 3.5% to $21.62 psf. The fourth quarter gain was 1.0% by both measures. The year 2018 got off to a slow start with no change in community-neighborhood center vacancy or rents in January. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

CBC NRT NNN Investment Report

This is a market report that Coldwell Banker Commercial NRT prepared for the CBC Global Conference. This report provides the 2018 forecast of net-lease properties and details why NNN properties remain well-positioned for continued success and growth in the coming months.

CBC Infographics

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The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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