Suburban Maryland office market reports

Q3 2023

Headwinds persist for the Suburban Maryland office market on both the leasing and investment fronts. Shrinking tenants, low office utilization and high interest rates are all contributing factors. The performance of the best quality assets and the dearth of inventory being added to the market remain bright spots.

+20 bps

Total vacancy

Total vacancy reached 17.5% in Q3 2023, which is up 20 basis points quarter-over-quarter and unchanged year-over-year.


Average asking rent

The average asking rent decreased this quarter, but face rates have been trending upward along with concessions, keeping NERs lower.

+10 bps

Sublet availability

Sublet availability edged up during the quarter to 2.1%. The most recent peak, recorded one year ago, was 2.2%.


Your source for the latest Suburban Maryland office market reports

Get in-depth office market reports and insights from commercial real estate experts in the Washington, DC Metro area. Avison Young advisors look at Suburban Maryland commercial real estate activities and the latest Suburban Maryland statistics to provide you expert market research on Suburban Maryland's office properties.

Explore different topics like the latest office market pricing trends and analysis of Suburban Maryland's current office real estate market conditions. Gain a better understanding of Suburban Maryland’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Suburban Maryland's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Suburban Maryland.

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