Suburban Maryland office market report

Q2 2024

The Suburban Maryland market has displayed consistent trends over the past few quarters, marked by a continuous increase in availability. Despite an improvement in the total vacancy rate since Q1 2024, it has seen a notable increase of 160 basis points compared to the same period last year. Additionally, the net absorption rate has improved from -1.2% in Q1 2024 to 0.1% this quarter. With the slowdown in the development pipeline and the rise in office conversions, the Suburban Maryland office market's response in the upcoming quarters will be significant.
484,500 sf

Development pipeline

There remains to be 484,500sf in the development pipeline which is unchanged from last quarter but a decrease of 299,362 from Q2 2023.

+0.96 %

Average SF rent

Average FS rents have increased by $0.31 from last quarter which is a 0.96% increase from $32.38.

-10 bps

Sublet activity

In the Suburban Maryland office market sublet availability has settled to 1.9% from last quarters 2.0% sublet availability.

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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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