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Despite recent uptick, Class A vacancy still below long-term average across most of Baltimore metro

  • ​While new construction has lifted overall Class A vacancy for the Baltimore metro area from a low of 9.9% in mid-2016 to 12.5% in Q3, vacancy in 3 out 5 jurisdictions is still below the long-term average.
  • Defense-centric Harford County and Anne Arundel County are lagging, while Howard County has maintained historically low vacancy despite the addition of 647,900 s.f. of new construction since 2016. Mixed-use development in Downtown Columbia and Maple Lawn has driven the bulk of occupancy growth across Howard County and Columbia.
  • A constrained development pipeline and flight-to-quality have contributed to Baltimore City and County’s relatively low Class A vacancy rates.
  • Additional groundbreakings in the near future are most likely in Howard County, where Class A vacancy continues to remain well below 10%. ​

Source: JLL Research, American Community Survey 1-year estimates​

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