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Purple Line puts chunk of Suburban Maryland’s industrial inventory into path of redevelopment

  • ​More than 7 million s.f. of industrial and flex inventory lies within a one-mile radius of one of the 21 station locations of the upcoming Purple Line light-rail system in Suburban Maryland. Competing land uses have already helped push rents in Suburban Maryland, with asking rents in Northern Prince George’s County reaching $8.41 p.s.f., a year-over-year increase of 6.5%.
  • Excluding multifamily, industrial buildings make up 40% of commercial real estate inventory between ½ and 1 mile away from planned Purple Line stations, making the property type a target for long-term redevelopment. The industrial product surrounding future Purple Line stations is well leased with just 4.3% vacancy.
  • With multifamily and office developments becoming the highest and best use scenarios for land surrounding the Purple Line, industrial inventory in affected submarkets is likely to shrink in the coming years. Given the bulk of industrial inventory sits between ½ to a mile from future stations, totaling 115 buildings at an average of just over 45,000 s.f., the trend may be more gradual as redevelopment pushes outward from light rail stops. 

Source: JLL Research

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