MARKET TRENDS

• Quarterly net absorption of 1.4 million square feet (msf) ended 2024 on a high note. The largest move-in of the quarter was Floor & Decor, as its 1.3 msfbuilt-to-suit in Sparrows Point was delivered.
• The construction pipeline continues to right-size, declining over 70.0% since the high-water mark in late 2022. The current pipeline of 1.8 msfstill leans heavily speculative, offering nearly 1.3 msfof available space.
• Tenant demand green shoots were numerous to end the year, with possibly none more notable than Elite Spice’s 220,000-square-foot commitment for the development at 7300 Corporate Center Drive.

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