TAKEAWAYS

• Baltimore’s availability rate surpassed its peak last quarter and is now at its highest level in over 5 years ending Q2 2022 at 17.8%.
• The supply of sublease space in the Baltimore market remains one of the lowest in the country with a total of 1.5 million square feet (msf) but continues to tick up.
• The increase in leasing activity of 0.2 msf from last quarter was above the 5-year average ending the quarter at 0.9 msf, thanks in part to a large new lease of 149,024 sf by the Maryland Department of Human Services at 25 S Charles Street.

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