Report | Baltimore Law Firm Outlook - 2015
Baltimore-based law firms currently looking for space larger than 10,000 square feet from the Pratt Street Corridor to Harbor East will need to look carefully, as space of this size has become limited following several recent renewals. Additionally, new construction opportunities in the law firm-concentrated parts of the CBD and Harbor East are considered scarce
However, firms seeking Class A space in 2017 or 2018, may have an opportunity at 750 E Pratt, as energy giant Exelon is relocating its 100,000 square foot headquarters from 750 E Pratt to Harbor Point.
For firms that don’t need Class A space, there are still options currently available along the waterfront and Charles Street Corridors of the CBD. Market-wide, there is an average 20 percent discount for Class B space.
Our local Law Firm Perspective provides a thorough overview of the Baltimore market to help you better shape your strategy. We explore conditions across Baltimore’s submarkets, rental rates—including TI allowances and premiums for Trophy space—to demand among professional and business services firms.
(Click here to see an overview of 2015 national law firm trends and market comparisons.)
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