Cushman & Wakefield Q4 2012 Office MarketBeat Report for Baltimore
Economic uncertainty will postpone major decisions in Baltimore's office market this year, although some cautious optimism remains.
This according to the Fourth Quarter 2012 Office MarketBeat report from Cushman & Wakefield, which is available as a SCRIBD document below these excerpts.
Markets outside of the Central Business District continued to outperform Baltimore’s Downtown. The Fort Meade district posted the highest positive absorption of all submarkets at 202,780 sf, driven by government contractor demand, particularly those firms engaged in high-tech services such as cyber-security and cloud computing.
There is anticipation of growth in the Howard County and Anne Arundel markets due to government-related and cyber security tenants’ demand for large blocks of class A space.
Sales will not reach the heights of pre-downturn activity; however, it will be another year of high transactional volume as the opportunistic purchasers from the crisis years-late ’08, 09 and ’10- look to cash in on rebounded pricing across asset sub-classes.