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Office Highlights

United States | Baltimore, MD

Report | Baltimore Office Highlights - Q1 2011

Summary

Job growth materialized in two of Baltimore’s largest office-occupying segments, the professional and business services and education and health services sectors. Although the economic climate compared favorably to other periods over the past 36 months, continued hesitancy on the side of corporate occupiers to commit to large growth initiatives and a sustained focus on cost-cutting kept overall market velocity muted.
Current dynamics suggest an extended tenant-favorable leasing environment in most segments of the market over the near term. The slowdown in construction activity should serve to gradually restrict options for tenants over the intermediate term, raising the likelihood that owners will possess significantly more leverage heading into 2012.

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