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Baltimore Q1 2025 Office Market Report

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MARKET TRENDS

  • Leasing volumes have remained steady in four of the past five quarters, each surpassing 800,000 square feet (sf), with four of this period’s five largest leases signed in Class A properties
  • Leasing activity for Q1 2025 was highest in Howard County (173,000 sf), Baltimore City South (125,000 sf), and the Central Business District (114,000 sf)
  • Availability in top-tier properties reached an all-time high, with Class A availability rising 110 basis points year-over-year to 23.8%

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