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United States | Suburban Maryland

Report | Suburban Maryland Office Insight - Q3 2016


Life sciences tenants finally took over space in Q3 across Suburban Maryland, with GlaxoSmithKline and Wellstat Biologics moving into their new digs, helping push absorption to a year-to-date total of 987,439 square feet. The vacancy rate is now at its lowest point in 11 quarters (as of Q3 2016)—18.4 percent.

The majority of space absorbed in Q3 2016 was from private sector tenants in Class A buildings. This follows a similar trend over the past two years that saw two-thirds of expansions occurring in Class A buildings.​

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