2q2013 cib office reports

8/22/2019 2Q2013 CIB Office Reports

1/18

Oce Market ReportBALTIMORE METRO AREA

www.ollier.om/greaterbaltimore

Ofce Leasing Slow, But Steady

MARkET dEfInITIOn

The Baltimore Regional oce market consists o Baltimore City and the surrounding counties o A

Arundel, Howard, Baltimore and Harord. The Colliers dened submarkets o Annapolis, BWI A

Howard County, Baltimore County West, Baltimore County North, Baltimore County East and Har

County are all located within this Region. According to Costar, Inc., there are existing Clasbuildings within the Baltimore Metro area comprising more than ,, square eet o space

the nd quarter o approximately ,, square eet o that space was vacant, or a metro a

Class A vacancy rate o .% .

MARkET OVERVIEW

Q2 2013 | OFFICE USE

The Baltimore Metro Area Class A oce market

improved marginally in the nd quarter, a trend

seen in most o the submarkets. National

politics (i.e. Sequestration/ederal unding cuts)

continue to play a role in how companies view

their commercial real estate needs and hasclearly had a chilling eect or government-

ocused contractors operating near Ft. Meade in

Anne Arundel County and Aberdeen Proving

Grounds in Harord County. The economy is

learning that there is a new normal as it

relates to the speed o recovery rom the latest

recession. Vacancies are taking longer to ll

because tenants are being more judicious with

their decision to move. Tenants are not moving

as much, causing some landlords to actor in

the costs o moving to entice new tenants.

Furthermore, or those tenants that do relocate,

there is an emphasis on short term leases or

lease term fexibility, something not seen since

the mid s. However all things considered,

the Baltimore regional economys upward

momentum continues.

Counties such as Harord and Baltimore

continue to see higher vacancy rates due to

stalled BRAC plans and the eect o

sequestration. That being said, Marylands

state-wide unemployment rate nonetheless

dropped to .% as the overall workorce

increased. While the City o Baltimore has do

a good job o attracting young proessionals

who preer to live in an urban environment, t

citys unemployment rate o % is higher ththe states. In the suburban market, Tenants a

taking a greater interest in LEED certied

buildings or environmental and business

reasons, in part due to anticipated savings in

utilities that osets a higher rent structure.

nET ABsORpTIOn

Net absorption in the Class A Baltimore Regi

oce market rebounded in the nd quarter a

going negative in the st quarter, absorbing

almost , s o space. Absorption in

Class B & C oce space also rebounded as

was expected, as many o those properties a

recycled or residential and non-oce use.

VAcAncy

Overall, vacancy rates in the Baltimore Regio

oce market dipped slightly to .%, as did

Class A oce vacancy which dropped to .

rom .%. Vacancy is not expected to conti

to rise as very little new space is projected to

be delivered or the rest o the year.

MARkET IndIcATORs

Q1 2013 Q2 2013

VAcAncy

nET ABsORpTIOn

cOnsTRucTIOn

REnTAL RATE

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2009 2010 2011 2012 2013

Thousands

Class A Net Absorption

10.0%

11.0%

12.0%

13.0%

14.0%

15.0%

16.0%

17.0%

18.0%

2010 2011 2012 2013

Class A Vacancy Rate


2/18www.ollier.om/maretame

REnTAL RATEs

Overall average rental rates continued to drop to . ps, the lowest it has been since the nd quarter o

. Class A oce rental rates also dipped rom . ps to . ps, as did Class B & C oce rental

rates which dropped to . ps.

sELEcT LEAsE sIGnInGs

TEnAnT LEAsEd sf pROpERTy AddREss cITy

Wells Fargo Bank 95,000 SF 7 St. Paul Street Baltimore

The Pediatric Center, LLC 9,777 SF 5900 Waterloo Road Ellicott City

The Lieber Institute or Brain Development 13,558 SF 855 N. Wole Street Baltimore

General Dynamics Technology Inormation 24,735 SF 1 W. Pennsylvania Ave Towson

Expedient Data Centers 21,238 SF 11155 Red Run Boulevard Owings Mills

Lupin Pharmaceuticals, Inc 17,216 SF 111 S. Calvert Street Baltimore

Accelerating success

This document/email has been prepared by Collier

International or advertising and general inormatio

only. Colliers International makes no guarantees

representations or warranties o any kind, expresse

or implied, regarding the inormation including, but no

limited to, warranties o content, accuracy as to th

accuracy o the inormation. This publication is th

copyrighted property o Colliers International and/o

its licensor(s). . All rights reserved.

sELEcT sALEs AcTIVITy

pROpERTy AddREss sELLER/BuyER sALE pRIcE sf pRIcE/sf

3350 Wilkens Ave Skirven Enterprises/Wilkens Investors, LLC $1,500,000 16,542 SF $90.68

344 N. Charles Street Carrollton Bank/WRH Property Holdings, LLC $1,200,000 14,951 SF $80.26

7257 Parkway Drive 7257 Holdings, LLC/Parkway 100 Holdings $3,557,500 28,108 SF $126.57

6401 Dogwood Road Meadow Wood W Building LLC/SNT Building LLC $2,600,000 24,000 SF $216.00

REsEARchER:Nadia KahlerVice President, Research &Transaction Management | Baltimore North Charles Street

Suite Baltimore, MD

TEL + fAX +

oces in countries on continentsUnited States: Canada:

Latin America:

Asia Pacic: EMEA:

$2 billion in annual revenue

1.12 billion square feet under

management

Over 13,500 professionals

$23.00

$23.50

$24.00

$24.50

$25.00

$25.50

$26.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

Class A Asking Rental Rates

$18.00

$18.50

$19.00

$19.50

$20.00

$20.50

$21.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

Class B & C Asking Rental Rates

research & forecast report | Q2 2013 | office use | baltimore metro area


3/18

research & orecast reportdowntown | BALtIMoRE REGIon

.llier.m/greaerbalimre

Downtown Baltimore City Ofce Market Repor

MARkEt dEfInItIon

t Blim ciy ubmk mi diinl cnl Buin Dii (cBD)

djn hb e & ll pin, cnn, sdium/W, nd su Blim. Wi xndd dwnwn i m n 13,250,000 qu cl a

2nd qu 2013 ligly m n 1,860,000 qu w vn.

MARkEt ovERvIEw


t dwnwn Blim cl a mkvny ligly in 2nd qu by 1% 17.32%. ti i ig vny dwnwn in m n 18 mn, nd i idu n in in ubl ming n mk. t vny l bn nbly dy. a ud in , n p s ninu

njy lw vny - 12.86% -nin wi mk viw inBlim dwnwn, p s nd Inn hb min m dibl lin.

t w m ignin mv ndnnund lin i qu, dd byMil & skbidg mving in 120,000 s 100 Lig s. Mil d bn ld 10Lig s m n 80 y, in m w undd. ti du m 10 Ligi in w will b lgdiv u n xiing dwnwn buildingin mn. In ddiin Mil,

uning m ellin & tuk nnund i will b lving i un lin 100 s.cl, Bnk ami Building, b ld nn in xnin 400 e p.

h&s Bky nnund y wuld bling i diibuin n m cnlavnu n l s, lving 1.2 im l dvlmn in n Blim gwing dwnwn hb e. In ddiin, t. rw pi k mdi by m nnuning y w

vluing i un dqu lin100 e. p s. pi cimn Binrg md i l nnul ming G Blim cmmi wilnlyzing i un lin, y vbluly n in in lving dwnwnBlim. t W sid dvlmn will v wi lil lng lng v

mkv My rwling-Blk nlynnund mind dl wi Lxingsqu pn dvlmn sublk. Bidding n i j will liklu in ll 2013.

cnin wi My inulin by 10,000 l nd lw l x, inv ing k l lk building in Blim ciy nvin idnil i, iul My nd ciy cunil v wkd x bk dvl building idnmn j. addiinl building nly nnund nvin mn

w hndl cmy 1107 ys, 344 N. cl s, nd 601 s.cl s.

tw dwnwn building w u n mk l i qu - 201 N. cls nd 36 s. cl s. B building cl cn- i nd, i yll i bing ug by wni, will invmn l in Blim cBDin 2007.

ARkEt IndIcAtoRs

Q1 2013 Q2 2013

vAcAncY

nEt ABsoRPtIon

constRuctIon

REntAL RAtE


4/18

aling u

ti dumn/mil bn d by clli

Inninl dviing nd gnl inmi

nly. clli Inninl mk n gun

nin wni ny kind, x

imlid, gding inmin inluding, bu n

limid , wni nn, uy

uy inmin. ti ubliin i

yigd y clli Inninl nd/

i lin(). 2013. all ig vd.

uPdAtE

REsEARchER:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s

sui 1710Blim, MD 21201

tEL +1 443 543 1222fAX +1 443 543 0191

482 in62 uni n6 ninnUnid s: 140cnd: 42

Lin ami: 20

ai pi: 195eMea: 85



management


-200

-100

0

100

200

300

400

2009 2010 2011 2012 2013

Thousands

Net Absorption

12.0%

14.0%

16.0%

18.0%

20.0%

22.0%

2009 2010 2011 2012 2013

Vacancy Rate

$22.00

$22.20

$22.40

$22.60

$22.80

$23.00

$23.20

$23.40

$23.60

$23.80

$24.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

sking Rental Rates

signin ling nin w ld by Wll g, wi ignd nw 10 y l 7s. pul s 95,000 . rgu, vid viul , xndd igning l in Inn hb, ll pin nd cnn. Jlly onlin Mking nwd i l nd xndd 250 s. pidn s uying 6,500 . Luin pmuil ignd nw l 17,000s 111 s. clv s, ning ninud gw lin. and atapco i l nlizing i l ull f on su.

research & forecast report | Q2 2013 | office use | baltimore downtown


5/18

research & orecast reportannapolis | BalTiMoRE REGion

.er.m/greterbtmre


Annapolis Market Report

MaRkET DEfiniTion

t annli ubmk i ld ximly 25 mil u Blim ciy nd 30 mil

Wingn D.c. t ciy annli v cil s Mylnd, uny ann aundl cuny nd i l m Unid s Nvl admy nd s. J

cllg. t ll u mk ni 158 i nd v 5,400,000 qu

In 2nd qu 2013 ju und 700,000 qu i w vn.

MaRkET ovERviEw

t annli ubmk vny ld dy

nding 12.6%. Muliy building vny

w l livly unngd ying 11.1%,

wv ingl y building vny jumd

dmilly 19.6% m 15.8% bin

wn ngiv f im in w qu.

cl a vg nl dd vy

ligly $29.14, wil cl B nl

w unngd $23.28 .

a w wi m ubmk,

annli mk w livly lw wi

gd ling iviy. 2525 riv rd

l iviy igning l hy

Inninl, Ky aquiiin pn, nd a

Gd ling 3,515 . Mylnd

Iniv ignd 200 W G cil

5,750 . 129 Lubn Div ignd Gil n

run nd Jun sugil 2,600 mbin

in um pyil ty nwd

l 2448 hlly avnu 3,000 .

MaRkET inDicaToRs

Q1 2013 Q2 2013

vacancY

nET aBsoRpTion

consTRucTion

REnTal RaTE


6/18.er.m/mretme

aling u




nin wni ny kind, x


limid , wni nn, uy




upDaTE

REsEaRchER:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s


TEl +1 443 543 1222faX +1 443 543 0191


Lin ami: 20

ai pif: 195eMea: 85



management


-100

-80

-60

-40

-20

0

2040

60

80

100

120

2009 2010 2011 2012 2013

Thousan

ds

Net Absorption

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

2008 2009 2010 2011 2012 2013

Vacancy Rate

$26.00

$26.20

$26.40

$26.60

$26.80

$27.00

$27.20

$27.40

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

Multistory Asking Rental Rates

$14.00

$15.00

$16.00

$17.00

$18.00

$19.00

$20.00

$21.00

$22.00

$23.00

$24.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013

Single Story Asking Rental Rates

Office (FS)

Flex (NNN)

research & forecast report | Q2 2013 | office use | baltimore region - annapolis


7/18

research & orecast reportbaltimore CoUNtY east | baltimore reGioN

.c.c/g


market iNdiCators

Q1 2013 Q2 2013

VaCaNCY

Net absorPtioN

CoNstrUCtioN

reNtal rate

Baltimore County East Market Report

market defiNitioN

t Blim cuny e ubmk inlud Blim cuny ububn ld

Blim ciy. t ubmk i dnd by I-95 id wll I-695 nd inlud l

mk Wi M, py hll, Dundlk nd ex. t nm n m

ginl f u ubmk wi 110 building nd ju v 3,650,000 qu . In

2nd qu 2013 ju v 630,000 qu w vn.

market oVerView

Vny in Blim cuny e dlind

m 19.3% 17.1%, nd xd

ninu d v nx vl qu.

ovll nl bundd nding $19.00

m $16.80 , in in nl in 3d qu 2012. Muliy

building vny ll ligly 15.1%,

did ingl y building wi dlind

igninly 18.9% m 22.5% nd

xd ninu d. cl a f

nl l ligly m $21.66

$21.82, did cl B f wi ind

dmilly $19.39 m 16.50,

in in in qu 2012.

Wil Blim cuny e f mk

uggld v v y

nd my bgin ng in ming y

illy s. Jn pi nnun

ln build 200 mixd u dvlm

Gnlig cd wi will inlud

500,000 f . s. Jn pil nnund y ld n 11

4001 N pin Bulvd, m N

pin div-in i, wi will b

dvld in n ul wnm mmun

syng tnlgi i ling i hun

dqu nd mking Wi M nw

dqu wi will m n 50

jb in i mk. Md hl ignd

5,800 l 8140 c Div, nd

pNc Bnk nly k 3,000 7939

hnyg Bulvd.


8/18.c.c/n

aling u




nin wni ny kind, x


limid , wni nn, uy




UPdate

researCher:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s


tel +1 443 543 1222faX +1 443 543 0191

482 f in62 uni n6 ninnUnid s: 140cnd: 42

Lin ami: 20

ai pi: 195eMea: 85



management


-20

0

20

40

60

80

100

120

2009 2010 2011 2012 2013

Thousands

Net Absorption

13.0%

14.0%

15.0%

16.0%

17.0%

18.0%

19.0%

20.0%21.0%

22.0%

23.0%

Q3 2008 Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013

Vacancy Rate

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


Office (FS)

Flex (NNN)

$17.00

$17.50

$18.00

$18.50

$19.00

$19.50

$20.00

$20.50

$21.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


research & forecast report | Q2 2013 | office use | baltimore county east


9/18

research & orecast reportbaltimore CoUNtY North | baltimore reGioN

.c.c/g


Baltimore County North Market Repor

market DefiNitioN

t Blim cuny N ubmk i ld in nn Blim cuny nd bd

nn nd Blim ciy. t ubmk in mj ug inluding I

id wll I-695. In ddiin ll ubmk twn nd timnium,

inlud hun Vlly, ckyvill nd sk. t vll Blim cuny N mk nin

i nd ju v 15,000,000 qu . In 2nd qu 2013 v 2,000,0

qu w vn.

market overview

ovll vny dd 13.3% m

14.5% nd n xd uu

ugu y. ovll nl

mginlly $19.86 m

$19.64 , wi cl a building iing

ligly, nding $22.46 . cl B

nl l jumd $19.16 m

$18.28 , f in in cl B nl

in qu. singl y building

vny jumd m 14.2% 15.2%

wil muliy building vny dd

13.0% m 14.2%.

signifn nin inludd Libidg

hl ling 16,800 1940

Gning avnu. endy cn N

Blim nwd nd xndd 1220 e.

J rd uying 5,000 . su

undin k 27,783 300 e. J rd

nd Nx Gn nwd i l 33,988

11359 Mcmik rd. Wll g advi

k 3,000 225 Inninl cil in hu

Vlly, nd Gnl Dynmi tnlgy

Inmin k 24,735 1 W. pnnylvn

avnu. twn i in middl mj

nmin, iul cv Vlly

pn nly nnund mixd u

j in dwnwn twn wuld inlu

200,000 .

market iNDiCators

Q1 2013 Q2 2013

vaCaNCY

Net absorPtioN

CoNstrUCtioN

reNtal rate


10/18.c.c/n

aling u




nin wni ny kind, x


limid , wni nn, uy




UPDate



tel +1 443 543 1222faX +1 443 543 0191


Lin ami: 20

ai pif: 195eMea: 85



management


-200

-150

-100

-50

0

50

100

150

2009 2010 2011 2012 2013

Thousands

Net Absorption

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

2010 2011 2012 2013

Vacancy Rate

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


Office (FS)

Flex (NNN)

$19.00

$19.20

$19.40

$19.60

$19.80

$20.00

$20.20

$20.40

$20.60

$20.80

$21.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


research & forecast report | Q2 2013 | office use | baltimore county north


11/18

research & orecast reportbaltimore CoUNtY west | baltimore reGioN

.c.c/g


market iNdiCators

Q1 2013 Q2 2013

VaCaNCY

Net absorPtioN

CoNstrUCtioN

reNtal rate

Baltimore County West Market Repor

market defiNitioN

t Blim cuny W ubmk i ld in ububn Blim cuny bding

wn nd nwn in Blim ciy. t ubmk i dnd by I-695

riwn rd id. I inlud ll mk owing Mill, pikvill, Wdl

cnvill nd abuu nd ni 302 building nd v 12,900,000 qu . In

qu 2013 ju v 2,125,000 qu w vn.

market oVerView

t vll vny in Blim

cuny W dd m 17.3% 16.4%

bin wn iiv im in

qu 2012. singl y building

vny dd ligly 15.5% m 15.9%

nd i n xd fuu in nx

vl qu. Muliy building vny

dd m 18% 16.8% ld by

iiv bin. avg nl

ligly $19.97 , wv cl a

nl dd ligly $22.86 ,

wil cl B ligly $18.93 .

Dmliin bgun sl cu ln in

owing Mill wi will giv wy undy

rw, mixd u dvlmn will inlud

425,000 il nd . exd

D cn ignd 21,000 l 111

rd run Bulvd, nd amu slmn

nwd i l 1220 s. Dlld rd

7,600 . Blln N Blm ignd l

6,225 fx 1720 Blmn

avnu, nd suqunn Bnk k 12,750

11155 Dlld Bulvd .

tug ling iviy in i ubmk

bn livly lw, vll ling i

ling will bund. s. Jn nly

nnund y wuld viv ln build

100,000 nd il mlx

riwn cing.


12/18.c.c/n

aling u




nin wni ny kind, x


limid , wni nn, uy




UPdate



tel +1 443 543 1222faX +1 443 543 0191


Lin ami: 20

ai pi: 195eMea: 85



management


-200

-150

-100

-50

0

50

100

150

200

250

300

2009 2010 2011 2012 2013

Thousands

Net Absorption

8.0%

9.0%

10.0%

11.0%

12.0%

13.0%

14.0%

15.0%16.0%

17.0%

18.0%

Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013

Vacancy Rate

$18.00

$18.50

$19.00

$19.50

$20.00

$20.50

$21.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

$14.00

$16.00

$18.00

$20.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


Office (FS)

Flex (NNN)

research & forecast report | Q2 2013 | office use | baltimore county west


13/18

research & orecast reportbwi area | baLTiMOre reGiON

.oll.om/gtltmo


MarkeT iNdicaTOrs

Q1 2013 Q2 2013

VacaNcY

NeT absOrPTiON

cONsTrucTiON

reNTaL raTe

BWI Area Market Report

MarkeT defiNiTiON

t BWI a ubmk i ld und Blim/Wingn tugd Mll Inni

ai in nn ann aundl cuny. t ubmk inlud Gg Md, N

dqu, Linium, hnv, Gln Buni, elkidg nd mll in hwd cu

bding BWI ai w. ti mk ni 193 i nd v 12,600,0

qu . In 2nd qu 2013 v 1,600,000 qu i w v

MarkeT OVerView

ovll vny in BWI mk

w unngd in 2nd qu 12.9%.

Muli-y vny ligly 12.6%

du xd dlivi, wil ingl y

vny ninu dlin 13.4%

m 14.0%. ovll nl ikd u

mw $25.56 . cl a

vg nl $28.97 , did

cl B wi jumd $22.12

m $21.31 .

t BWI ubmk ninu w gw

nd biliy ug bginning 2013,

vn ubmk v l

mmnum. cyb-uiy nd engining

mni ninu k gin,

xml wi bing Kll engining

wi unly l 21,000 7550

tgu rd, Dn suiy svi wi

ju nwd 7556 tgu rd, nd

Miln Inllign wi ld 4,000

7050 hi t Div. t Gsa nnun

y king 165,000

wiin 10 mil Md wi uld

ily ll in i ubmk. a

ignifn l nin g, 7257 pkw

Div ld $3,557,500 nd lnd 7149

ridg rd w bug by Liby py

$3,800,000 200,000 dvlmn.


14/18.oll.om/mtnm

aling u

uPdaTe


Lin ami: 20

ai pif: 195eMea: 85



management


0

50

100

150

200

250

300350

400

450

500

2009 2010 2011 2012 2013

Thousands

Net Absorption

10.0%

11.0%

12.0%

13.0%

14.0%

15.0%

16.0%

17.0%

18.0%

19.0%

20.0%

Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013

Vacancy Rate

$24.00

$24.50

$25.00

$25.50

$26.00

$26.50

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


Office (FS)

Flex (NNN)

research & forecast report | Q2 2013 | office use | baltimore region - bwi area




nin wni ny kind, x


limid , wni nn, uy




researcher:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s


TeL +1 443 543 1222faX +1 443 543 0191


15/18

research & orecast reportharford county | BaLtIMorE rEGIon

.llie.m/geeblime


Harford County Market Report

MarkEt dEfInItIon

t hd cuny ubmk i ld ximly 25 mil n Blim ciy n

dnd by I-95 nd ru 1 cid. t inlud ll mk Bl ai, abdn

hv d G. t abdn pving Gund i l ld in hd cuny. ti mk n

129 i nd ju v 4,100,000 qu xiing . In 2nd qu 2013 b

900,000 qu w vn.

MarkEt ovErvIEw

Vny in hd cuny ubmk

ninud i 22.3% u m 21.1% w

i ndd in l qu. ovll vg

nl dd igninly $24.21

m $25.93 . cl a nl l

dmilly $28.45 m $30.54, wil

cl B imvd m $19.60 m

$22.57 . singl y building vg

vny jumd igninly 21.9% m

16.7%, wil muliy building vny

yd bu m 23.4%

t hd cuny ubmk i ily

qui i y, iul wi gd

gvnmn n nd Brac ld

iviy. t gnl ling nd bn

nn dwniz i wn i

l u. M Lnin s. Jn

pi iviy i i

dwn, bu nd w l w ignd

Gudin Gwy Mculy Bwn 3,0

nd adm cmmuniin 2,600 .

rn i i vging mid

$30 s n building nd $14 NNN

f i.

MarkEt IndIcators

Q1 2013 Q2 2013

vacancy

nEt aBsorPtIon

constructIon

rEntaL ratE


16/18.llie.m/meme

aling u




nin wni ny kind, x


limid , wni nn, uy




uPdatE

rEsEarchEr:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s


tEL +1 443 543 1222faX +1 443 543 0191


Lin ami: 20

ai pi: 195eMea: 85



management


research & forecast report | Q2 2013 | office use | baltimore region - harford county

0

50

100

150

200

250

300

2009 2010 2011 2012 2013

Thousands

Net Absorption

7.0%

9.0%

11.0%

13.0%

15.0%

17.0%

19.0%

21.0%

23.0%

25.0%

27.0%

Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013

Vacancy Rate

$22.00

$23.00

$24.00

$25.00

$26.00

$27.00

$28.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


Office (FS)

Flex (NNN)


17/18

research & orecast reportHOWARD COUNTY | BALTIMORE REGION

www.collier.com/greaterbaltimore


MARkET INDICATORs

Q1 2013 Q2 2013

VACANCY

NET ABsORPTION

CONsTRUCTION

RENTAL RATE

Howard County Market Report

MARkET DEfINITION

t hwd cuny ubmk i ld bwn Blim MD nd Wingn D.c. lng

in I-95 id. t ubmk i mid 378 building nd bu 18,200,000 qu

. In 2nd qu 2013 ju und 2,200,000 qu w v

t ubmk b n xmly udy Lndld l wi reIt nd ll dvl u

c o pi tu, i pm Mngmn, LLc, Gnl Gw p

abm Dvlmn nd Mi lding k.

MARkET OVERVIEW

ovll vny dd ligly 11.7%,

nd vny i xd d di

uu dlivi i y. singl y vny

dd ligly 10%, did muliy

i wi dd 12.5% m 13%.

ovll nl $23.58 m

$23.41 . cl a ikd u

mmnum nd $24.81 m $23.69

, did cl B nl wi w

lig bum $23.35 m $23.21 .

NwDy Usa mvd i mny

dqu 8160 Ml Lwn Bulvd,

king v 50,000 . advng

engining ignd 11,024 l 7070

smul M Div dubling i iz. o

xnin inlud advnd pgm wi

ind 15,216 7090 clumbi Gw

Div. suul In bug 10150 old clum

pik $4.05 millin w y ln mv

i dqu. o ignin

nin inlud Dyni king 11,690

9108 Guild rd. Bxly rly ld n

w nd 8894 snd Bulvd

$295 qu . a dvlmn,

nuin i unly undwy

Wl d wi will b uying b

f m ru cmny building

Lil puxn pkwy.


18/18

aling u




nin wni ny kind, x


limid , wni nn, uy




UPDATE

REsEARCHER:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s


TEL +1 443 543 1222fAX +1 443 543 0191


Lin ami: 20

ai pi: 195eMea: 85



management


-100

0

100

200

300

400

500

600

2009 2010 2011 2012 2013

Thousands

Net Absorption

10.0%

11.0%

12.0%

13.0%

14.0%

15.0%

16.0%

Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013

Vacancy Rate

$23.00

$23.20

$23.40

$23.60

$23.80

$24.00

$24.20

$24.40

$24.60$24.80

$25.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013


Office (FS)

Flex (NNN)

research & forecast report | Q2 2013 | office use | baltimore region - howard county

2q2013 cib office reports

Documents