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With limited availability, Downtown Columbia and Baltimore City Southeast drive highest rents

• Both with active development pipelines, Downtown Columbia and Baltimore City Southeast commanded the highest average asking rental rate for Class A office space in Q1. Recent groundbreakings and deliveries in Downtown Columbia have propelled asking rates in the submarket, while Baltimore City Southeast has experienced rental rate growth along waterfront product.

• The break between Pratt Street and off-Pratt Street in the CBD is stark: Class A product on Pratt Street prices as the 4th most expensive market in the above chart, while off-Pratt Street is the cheapest, with the second highest availability rate.

• The I-83 Corridor’s Class A inventory is competitively priced compared to the greater metro area, and is also one of the tightest with a 12.9% availability rate. Harford County is the clear outlier, where Class A product oversaturated the submarket following expansion at Aberdeen Proving Ground.

Source: JLL Research

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