TAKEAWAYS

• Leasing activity ended the year on a high note with the largest volume by square footage seen in over 8 years at 1.5 million square feet (msf), a 51% increase from last quarter and over double the leasing over a year ago
• The availability rate in the Baltimore market decreased 10 basis points over a year ago to 16.9% as government agencies have taken more office space
• With economic uncertainty on the horizon and flexible work strategies here to stay, tenant-favorable market conditions are here to stay for occupiers willing to make real estate decisions over the short-term

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