TAKEAWAYS

• The Suburban Maryland market showed multiple quarters of decreased availability over the last year until Q2 2022 where availability jumped 40 basis points (bps) to its pandemic high of 22.0% and will remain elevated until a shift in demand is seen.
• Sublease space reached record high of 1.7 million square feet (msf) during Q2 further increasing availability but also providing ample opportunities for occupiers to find space at a discounted rate.
• The full impact of a mainstream hybrid remote work policy is still evolving but flexibility regarding both lease terms and build-out, will be at the forefront of occupiers' minds as they evaluate their workplaces.

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