MARKET TRENDS

• Net absorption remained positive for the quarter, with 500,000 square feet (sf) of occupancy gains driven by the University of Maryland Medical System’s 400,000-sf build-to-suit project at Tradepoint Atlantic.
• Sublease availability remains elevated but has shown signs of slowing, climbing just 2.0% year over year. However, large sublets such as the 650,000 sf at 500 Old Post Road will likely limit near-term rent growth.
• Tenant activity remained relatively steady in Q1 2025, as tenants such as Restoration Hardware and Poole & Kent committed to sizeable blocks of space that will drive absorption in the coming quarters.

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