TAKEAWAYS

• Despite slowing e-commerce growth, occupiers are still active in the Baltimore market as evident in Amazon signing the largest lease of the quarter for 241,000 square feet (sf) in Baltimore County East at 1701 E Patapsco Avenue.
• The vacancy rate remains near it’s all time low at 5.3%, a 280-basis point drop from one year ago and will remain low until supply from the construction pipeline catches up with demand.
• The construction pipeline for the Baltimore market increased 44.2% year over year to a total of 7.5 million square feet (msf) and will continue to stay elevated as demand remains high.

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