Suburban Maryland office market reports
Q1 2024
With the start of the new year, trends that existed at year-end 2023 persisted into this quarter. The total vacancy rate rose from 18.3% to 19.5% during the quarter, and class B and C buildings made up the bulk of leases signed by tenants. Suburban Maryland had zero office investment sale activity within the quarter, which helps to demonstrate the current economic climate in the area.
Bio-tech sector activity
Tenants in biotech, life sciences, pharma & healthcare made up 25.00% of the Suburban Maryland leases this quarter.
Shady Grove leasing activity
Leases for this quarter in Shady Grove encompassed 41.67% of all Suburban Maryland leases signed.
Full Service rent
In the Suburban Maryland office market, the average weighted FS rent for leases decreased by 7.57% from last quarter.
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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