2Q2013 CIB Office Reports
Transcript of 2Q2013 CIB Office Reports
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Oce Market ReportBALTIMORE METRO AREA
www.ollier.om/greaterbaltimore
Ofce Leasing Slow, But Steady
MARkET dEfInITIOn
The Baltimore Regional oce market consists o Baltimore City and the surrounding counties o A
Arundel, Howard, Baltimore and Harord. The Colliers dened submarkets o Annapolis, BWI A
Howard County, Baltimore County West, Baltimore County North, Baltimore County East and Har
County are all located within this Region. According to Costar, Inc., there are existing Clasbuildings within the Baltimore Metro area comprising more than ,, square eet o space
the nd quarter o approximately ,, square eet o that space was vacant, or a metro a
Class A vacancy rate o .% .
MARkET OVERVIEW
Q2 2013 | OFFICE USE
The Baltimore Metro Area Class A oce market
improved marginally in the nd quarter, a trend
seen in most o the submarkets. National
politics (i.e. Sequestration/ederal unding cuts)
continue to play a role in how companies view
their commercial real estate needs and hasclearly had a chilling eect or government-
ocused contractors operating near Ft. Meade in
Anne Arundel County and Aberdeen Proving
Grounds in Harord County. The economy is
learning that there is a new normal as it
relates to the speed o recovery rom the latest
recession. Vacancies are taking longer to ll
because tenants are being more judicious with
their decision to move. Tenants are not moving
as much, causing some landlords to actor in
the costs o moving to entice new tenants.
Furthermore, or those tenants that do relocate,
there is an emphasis on short term leases or
lease term fexibility, something not seen since
the mid s. However all things considered,
the Baltimore regional economys upward
momentum continues.
Counties such as Harord and Baltimore
continue to see higher vacancy rates due to
stalled BRAC plans and the eect o
sequestration. That being said, Marylands
state-wide unemployment rate nonetheless
dropped to .% as the overall workorce
increased. While the City o Baltimore has do
a good job o attracting young proessionals
who preer to live in an urban environment, t
citys unemployment rate o % is higher ththe states. In the suburban market, Tenants a
taking a greater interest in LEED certied
buildings or environmental and business
reasons, in part due to anticipated savings in
utilities that osets a higher rent structure.
nET ABsORpTIOn
Net absorption in the Class A Baltimore Regi
oce market rebounded in the nd quarter a
going negative in the st quarter, absorbing
almost , s o space. Absorption in
Class B & C oce space also rebounded as
was expected, as many o those properties a
recycled or residential and non-oce use.
VAcAncy
Overall, vacancy rates in the Baltimore Regio
oce market dipped slightly to .%, as did
Class A oce vacancy which dropped to .
rom .%. Vacancy is not expected to conti
to rise as very little new space is projected to
be delivered or the rest o the year.
MARkET IndIcATORs
Q1 2013 Q2 2013
VAcAncy
nET ABsORpTIOn
cOnsTRucTIOn
REnTAL RATE
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2009 2010 2011 2012 2013
Thousands
Class A Net Absorption
10.0%
11.0%
12.0%
13.0%
14.0%
15.0%
16.0%
17.0%
18.0%
2010 2011 2012 2013
Class A Vacancy Rate
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REnTAL RATEs
Overall average rental rates continued to drop to . ps, the lowest it has been since the nd quarter o
. Class A oce rental rates also dipped rom . ps to . ps, as did Class B & C oce rental
rates which dropped to . ps.
sELEcT LEAsE sIGnInGs
TEnAnT LEAsEd sf pROpERTy AddREss cITy
Wells Fargo Bank 95,000 SF 7 St. Paul Street Baltimore
The Pediatric Center, LLC 9,777 SF 5900 Waterloo Road Ellicott City
The Lieber Institute or Brain Development 13,558 SF 855 N. Wole Street Baltimore
General Dynamics Technology Inormation 24,735 SF 1 W. Pennsylvania Ave Towson
Expedient Data Centers 21,238 SF 11155 Red Run Boulevard Owings Mills
Lupin Pharmaceuticals, Inc 17,216 SF 111 S. Calvert Street Baltimore
Accelerating success
This document/email has been prepared by Collier
International or advertising and general inormatio
only. Colliers International makes no guarantees
representations or warranties o any kind, expresse
or implied, regarding the inormation including, but no
limited to, warranties o content, accuracy as to th
accuracy o the inormation. This publication is th
copyrighted property o Colliers International and/o
its licensor(s). . All rights reserved.
sELEcT sALEs AcTIVITy
pROpERTy AddREss sELLER/BuyER sALE pRIcE sf pRIcE/sf
3350 Wilkens Ave Skirven Enterprises/Wilkens Investors, LLC $1,500,000 16,542 SF $90.68
344 N. Charles Street Carrollton Bank/WRH Property Holdings, LLC $1,200,000 14,951 SF $80.26
7257 Parkway Drive 7257 Holdings, LLC/Parkway 100 Holdings $3,557,500 28,108 SF $126.57
6401 Dogwood Road Meadow Wood W Building LLC/SNT Building LLC $2,600,000 24,000 SF $216.00
REsEARchER:Nadia KahlerVice President, Research &Transaction Management | Baltimore North Charles Street
Suite Baltimore, MD
TEL + fAX +
oces in countries on continentsUnited States: Canada:
Latin America:
Asia Pacic: EMEA:
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
$23.00
$23.50
$24.00
$24.50
$25.00
$25.50
$26.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Class A Asking Rental Rates
$18.00
$18.50
$19.00
$19.50
$20.00
$20.50
$21.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Class B & C Asking Rental Rates
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research & orecast reportdowntown | BALtIMoRE REGIon
.llier.m/greaerbalimre
Downtown Baltimore City Ofce Market Repor
MARkEt dEfInItIon
t Blim ciy ubmk mi diinl cnl Buin Dii (cBD)
djn hb e & ll pin, cnn, sdium/W, nd su Blim. Wi xndd dwnwn i m n 13,250,000 qu cl a
2nd qu 2013 ligly m n 1,860,000 qu w vn.
MARkEt ovERvIEw
Q2 2013 | OFFICE USE
t dwnwn Blim cl a mkvny ligly in 2nd qu by 1% 17.32%. ti i ig vny dwnwn in m n 18 mn, nd i idu n in in ubl ming n mk. t vny l bn nbly dy. a ud in , n p s ninu
njy lw vny - 12.86% -nin wi mk viw inBlim dwnwn, p s nd Inn hb min m dibl lin.
t w m ignin mv ndnnund lin i qu, dd byMil & skbidg mving in 120,000 s 100 Lig s. Mil d bn ld 10Lig s m n 80 y, in m w undd. ti du m 10 Ligi in w will b lgdiv u n xiing dwnwn buildingin mn. In ddiin Mil,
uning m ellin & tuk nnund i will b lving i un lin 100 s.cl, Bnk ami Building, b ld nn in xnin 400 e p.
h&s Bky nnund y wuld bling i diibuin n m cnlavnu n l s, lving 1.2 im l dvlmn in n Blim gwing dwnwn hb e. In ddiin, t. rw pi k mdi by m nnuning y w
vluing i un dqu lin100 e. p s. pi cimn Binrg md i l nnul ming G Blim cmmi wilnlyzing i un lin, y vbluly n in in lving dwnwnBlim. t W sid dvlmn will v wi lil lng lng v
mkv My rwling-Blk nlynnund mind dl wi Lxingsqu pn dvlmn sublk. Bidding n i j will liklu in ll 2013.
cnin wi My inulin by 10,000 l nd lw l x, inv ing k l lk building in Blim ciy nvin idnil i, iul My nd ciy cunil v wkd x bk dvl building idnmn j. addiinl building nly nnund nvin mn
w hndl cmy 1107 ys, 344 N. cl s, nd 601 s.cl s.
tw dwnwn building w u n mk l i qu - 201 N. cls nd 36 s. cl s. B building cl cn- i nd, i yll i bing ug by wni, will invmn l in Blim cBDin 2007.
ARkEt IndIcAtoRs
Q1 2013 Q2 2013
vAcAncY
nEt ABsoRPtIon
constRuctIon
REntAL RAtE
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aling u
ti dumn/mil bn d by clli
Inninl dviing nd gnl inmi
nly. clli Inninl mk n gun
nin wni ny kind, x
imlid, gding inmin inluding, bu n
limid , wni nn, uy
uy inmin. ti ubliin i
yigd y clli Inninl nd/
i lin(). 2013. all ig vd.
uPdAtE
REsEARchER:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s
sui 1710Blim, MD 21201
tEL +1 443 543 1222fAX +1 443 543 0191
482 in62 uni n6 ninnUnid s: 140cnd: 42
Lin ami: 20
ai pi: 195eMea: 85
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
-200
-100
0
100
200
300
400
2009 2010 2011 2012 2013
Thousands
Net Absorption
12.0%
14.0%
16.0%
18.0%
20.0%
22.0%
2009 2010 2011 2012 2013
Vacancy Rate
$22.00
$22.20
$22.40
$22.60
$22.80
$23.00
$23.20
$23.40
$23.60
$23.80
$24.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
sking Rental Rates
signin ling nin w ld by Wll g, wi ignd nw 10 y l 7s. pul s 95,000 . rgu, vid viul , xndd igning l in Inn hb, ll pin nd cnn. Jlly onlin Mking nwd i l nd xndd 250 s. pidn s uying 6,500 . Luin pmuil ignd nw l 17,000s 111 s. clv s, ning ninud gw lin. and atapco i l nlizing i l ull f on su.
research & forecast report | Q2 2013 | office use | baltimore downtown
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research & orecast reportannapolis | BalTiMoRE REGion
.er.m/greterbtmre
Q2 2013 | OFFICE USE
Annapolis Market Report
MaRkET DEfiniTion
t annli ubmk i ld ximly 25 mil u Blim ciy nd 30 mil
Wingn D.c. t ciy annli v cil s Mylnd, uny ann aundl cuny nd i l m Unid s Nvl admy nd s. J
cllg. t ll u mk ni 158 i nd v 5,400,000 qu
In 2nd qu 2013 ju und 700,000 qu i w vn.
MaRkET ovERviEw
t annli ubmk vny ld dy
nding 12.6%. Muliy building vny
w l livly unngd ying 11.1%,
wv ingl y building vny jumd
dmilly 19.6% m 15.8% bin
wn ngiv f im in w qu.
cl a vg nl dd vy
ligly $29.14, wil cl B nl
w unngd $23.28 .
a w wi m ubmk,
annli mk w livly lw wi
gd ling iviy. 2525 riv rd
l iviy igning l hy
Inninl, Ky aquiiin pn, nd a
Gd ling 3,515 . Mylnd
Iniv ignd 200 W G cil
5,750 . 129 Lubn Div ignd Gil n
run nd Jun sugil 2,600 mbin
in um pyil ty nwd
l 2448 hlly avnu 3,000 .
MaRkET inDicaToRs
Q1 2013 Q2 2013
vacancY
nET aBsoRpTion
consTRucTion
REnTal RaTE
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aling u
ti dumn/mil bn d by clli
Inninl dviing nd gnl inmi
nly. clli Inninl mk n gun
nin wni ny kind, x
imlid, gding inmin inluding, bu n
limid , wni nn, uy
uy inmin. ti ubliin i
yigd y clli Inninl nd/
i lin(). 2013. all ig vd.
upDaTE
REsEaRchER:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s
sui 1710Blim, MD 21201
TEl +1 443 543 1222faX +1 443 543 0191
482 in62 uni n6 ninnUnid s: 140cnd: 42
Lin ami: 20
ai pif: 195eMea: 85
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
-100
-80
-60
-40
-20
0
2040
60
80
100
120
2009 2010 2011 2012 2013
Thousan
ds
Net Absorption
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
2008 2009 2010 2011 2012 2013
Vacancy Rate
$26.00
$26.20
$26.40
$26.60
$26.80
$27.00
$27.20
$27.40
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Multistory Asking Rental Rates
$14.00
$15.00
$16.00
$17.00
$18.00
$19.00
$20.00
$21.00
$22.00
$23.00
$24.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Single Story Asking Rental Rates
Office (FS)
Flex (NNN)
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research & orecast reportbaltimore CoUNtY east | baltimore reGioN
.c.c/g
Q2 2013 | OFFICE USE
market iNdiCators
Q1 2013 Q2 2013
VaCaNCY
Net absorPtioN
CoNstrUCtioN
reNtal rate
Baltimore County East Market Report
market defiNitioN
t Blim cuny e ubmk inlud Blim cuny ububn ld
Blim ciy. t ubmk i dnd by I-95 id wll I-695 nd inlud l
mk Wi M, py hll, Dundlk nd ex. t nm n m
ginl f u ubmk wi 110 building nd ju v 3,650,000 qu . In
2nd qu 2013 ju v 630,000 qu w vn.
market oVerView
Vny in Blim cuny e dlind
m 19.3% 17.1%, nd xd
ninu d v nx vl qu.
ovll nl bundd nding $19.00
m $16.80 , in in nl in 3d qu 2012. Muliy
building vny ll ligly 15.1%,
did ingl y building wi dlind
igninly 18.9% m 22.5% nd
xd ninu d. cl a f
nl l ligly m $21.66
$21.82, did cl B f wi ind
dmilly $19.39 m 16.50,
in in in qu 2012.
Wil Blim cuny e f mk
uggld v v y
nd my bgin ng in ming y
illy s. Jn pi nnun
ln build 200 mixd u dvlm
Gnlig cd wi will inlud
500,000 f . s. Jn pil nnund y ld n 11
4001 N pin Bulvd, m N
pin div-in i, wi will b
dvld in n ul wnm mmun
syng tnlgi i ling i hun
dqu nd mking Wi M nw
dqu wi will m n 50
jb in i mk. Md hl ignd
5,800 l 8140 c Div, nd
pNc Bnk nly k 3,000 7939
hnyg Bulvd.
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aling u
ti dumn/mil bn d by clli
Inninl dviing nd gnl inmi
nly. clli Inninl mk n gun
nin wni ny kind, x
imlid, gding inmin inluding, bu n
limid , wni nn, uy
uy inmin. ti ubliin i
yigd y clli Inninl nd/
i lin(). 2013. all ig vd.
UPdate
researCher:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s
sui 1710Blim, MD 21201
tel +1 443 543 1222faX +1 443 543 0191
482 f in62 uni n6 ninnUnid s: 140cnd: 42
Lin ami: 20
ai pi: 195eMea: 85
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
-20
0
20
40
60
80
100
120
2009 2010 2011 2012 2013
Thousands
Net Absorption
13.0%
14.0%
15.0%
16.0%
17.0%
18.0%
19.0%
20.0%21.0%
22.0%
23.0%
Q3 2008 Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013
Vacancy Rate
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Single Story Asking Rental Rates
Office (FS)
Flex (NNN)
$17.00
$17.50
$18.00
$18.50
$19.00
$19.50
$20.00
$20.50
$21.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Multistory Asking Rental Rates
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research & orecast reportbaltimore CoUNtY North | baltimore reGioN
.c.c/g
Q2 2013 | OFFICE USE
Baltimore County North Market Repor
market DefiNitioN
t Blim cuny N ubmk i ld in nn Blim cuny nd bd
nn nd Blim ciy. t ubmk in mj ug inluding I
id wll I-695. In ddiin ll ubmk twn nd timnium,
inlud hun Vlly, ckyvill nd sk. t vll Blim cuny N mk nin
i nd ju v 15,000,000 qu . In 2nd qu 2013 v 2,000,0
qu w vn.
market overview
ovll vny dd 13.3% m
14.5% nd n xd uu
ugu y. ovll nl
mginlly $19.86 m
$19.64 , wi cl a building iing
ligly, nding $22.46 . cl B
nl l jumd $19.16 m
$18.28 , f in in cl B nl
in qu. singl y building
vny jumd m 14.2% 15.2%
wil muliy building vny dd
13.0% m 14.2%.
signifn nin inludd Libidg
hl ling 16,800 1940
Gning avnu. endy cn N
Blim nwd nd xndd 1220 e.
J rd uying 5,000 . su
undin k 27,783 300 e. J rd
nd Nx Gn nwd i l 33,988
11359 Mcmik rd. Wll g advi
k 3,000 225 Inninl cil in hu
Vlly, nd Gnl Dynmi tnlgy
Inmin k 24,735 1 W. pnnylvn
avnu. twn i in middl mj
nmin, iul cv Vlly
pn nly nnund mixd u
j in dwnwn twn wuld inlu
200,000 .
market iNDiCators
Q1 2013 Q2 2013
vaCaNCY
Net absorPtioN
CoNstrUCtioN
reNtal rate
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aling u
ti dumn/mil bn d by clli
Inninl dviing nd gnl inmi
nly. clli Inninl mk n gun
nin wni ny kind, x
imlid, gding inmin inluding, bu n
limid , wni nn, uy
uy inmin. ti ubliin i
yigd y clli Inninl nd/
i lin(). 2013. all ig vd.
UPDate
researCher:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s
sui 1710Blim, MD 21201
tel +1 443 543 1222faX +1 443 543 0191
482 in62 uni n6 ninnUnid s: 140cnd: 42
Lin ami: 20
ai pif: 195eMea: 85
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
-200
-150
-100
-50
0
50
100
150
2009 2010 2011 2012 2013
Thousands
Net Absorption
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
2010 2011 2012 2013
Vacancy Rate
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Single Story Asking Rental Rates
Office (FS)
Flex (NNN)
$19.00
$19.20
$19.40
$19.60
$19.80
$20.00
$20.20
$20.40
$20.60
$20.80
$21.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Multistory Asking Rental Rates
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research & orecast reportbaltimore CoUNtY west | baltimore reGioN
.c.c/g
Q2 2013 | OFFICE USE
market iNdiCators
Q1 2013 Q2 2013
VaCaNCY
Net absorPtioN
CoNstrUCtioN
reNtal rate
Baltimore County West Market Repor
market defiNitioN
t Blim cuny W ubmk i ld in ububn Blim cuny bding
wn nd nwn in Blim ciy. t ubmk i dnd by I-695
riwn rd id. I inlud ll mk owing Mill, pikvill, Wdl
cnvill nd abuu nd ni 302 building nd v 12,900,000 qu . In
qu 2013 ju v 2,125,000 qu w vn.
market oVerView
t vll vny in Blim
cuny W dd m 17.3% 16.4%
bin wn iiv im in
qu 2012. singl y building
vny dd ligly 15.5% m 15.9%
nd i n xd fuu in nx
vl qu. Muliy building vny
dd m 18% 16.8% ld by
iiv bin. avg nl
ligly $19.97 , wv cl a
nl dd ligly $22.86 ,
wil cl B ligly $18.93 .
Dmliin bgun sl cu ln in
owing Mill wi will giv wy undy
rw, mixd u dvlmn will inlud
425,000 il nd . exd
D cn ignd 21,000 l 111
rd run Bulvd, nd amu slmn
nwd i l 1220 s. Dlld rd
7,600 . Blln N Blm ignd l
6,225 fx 1720 Blmn
avnu, nd suqunn Bnk k 12,750
11155 Dlld Bulvd .
tug ling iviy in i ubmk
bn livly lw, vll ling i
ling will bund. s. Jn nly
nnund y wuld viv ln build
100,000 nd il mlx
riwn cing.
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12/18.c.c/n
aling u
ti dumn/mil bn d by clli
Inninl dviing nd gnl inmi
nly. clli Inninl mk n gun
nin wni ny kind, x
imlid, gding inmin inluding, bu n
limid , wni nn, uy
uy inmin. ti ubliin i
yigd y clli Inninl nd/
i lin(). 2013. all ig vd.
UPdate
researCher:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s
sui 1710Blim, MD 21201
tel +1 443 543 1222faX +1 443 543 0191
482 in62 uni n6 ninnUnid s: 140cnd: 42
Lin ami: 20
ai pi: 195eMea: 85
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
-200
-150
-100
-50
0
50
100
150
200
250
300
2009 2010 2011 2012 2013
Thousands
Net Absorption
8.0%
9.0%
10.0%
11.0%
12.0%
13.0%
14.0%
15.0%16.0%
17.0%
18.0%
Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013
Vacancy Rate
$18.00
$18.50
$19.00
$19.50
$20.00
$20.50
$21.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Multistory Asking Rental Rates
$0.00
$2.00
$4.00
$6.00
$8.00
$10.00
$12.00
$14.00
$16.00
$18.00
$20.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Single Story Asking Rental Rates
Office (FS)
Flex (NNN)
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research & orecast reportbwi area | baLTiMOre reGiON
.oll.om/gtltmo
Q2 2013 | OFFICE USE
MarkeT iNdicaTOrs
Q1 2013 Q2 2013
VacaNcY
NeT absOrPTiON
cONsTrucTiON
reNTaL raTe
BWI Area Market Report
MarkeT defiNiTiON
t BWI a ubmk i ld und Blim/Wingn tugd Mll Inni
ai in nn ann aundl cuny. t ubmk inlud Gg Md, N
dqu, Linium, hnv, Gln Buni, elkidg nd mll in hwd cu
bding BWI ai w. ti mk ni 193 i nd v 12,600,0
qu . In 2nd qu 2013 v 1,600,000 qu i w v
MarkeT OVerView
ovll vny in BWI mk
w unngd in 2nd qu 12.9%.
Muli-y vny ligly 12.6%
du xd dlivi, wil ingl y
vny ninu dlin 13.4%
m 14.0%. ovll nl ikd u
mw $25.56 . cl a
vg nl $28.97 , did
cl B wi jumd $22.12
m $21.31 .
t BWI ubmk ninu w gw
nd biliy ug bginning 2013,
vn ubmk v l
mmnum. cyb-uiy nd engining
mni ninu k gin,
xml wi bing Kll engining
wi unly l 21,000 7550
tgu rd, Dn suiy svi wi
ju nwd 7556 tgu rd, nd
Miln Inllign wi ld 4,000
7050 hi t Div. t Gsa nnun
y king 165,000
wiin 10 mil Md wi uld
ily ll in i ubmk. a
ignifn l nin g, 7257 pkw
Div ld $3,557,500 nd lnd 7149
ridg rd w bug by Liby py
$3,800,000 200,000 dvlmn.
-
8/22/2019 2Q2013 CIB Office Reports
14/18.oll.om/mtnm
aling u
uPdaTe
482 in62 uni n6 ninnUnid s: 140cnd: 42
Lin ami: 20
ai pif: 195eMea: 85
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
0
50
100
150
200
250
300350
400
450
500
2009 2010 2011 2012 2013
Thousands
Net Absorption
10.0%
11.0%
12.0%
13.0%
14.0%
15.0%
16.0%
17.0%
18.0%
19.0%
20.0%
Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013
Vacancy Rate
$24.00
$24.50
$25.00
$25.50
$26.00
$26.50
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Multistory Asking Rental Rates
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Single Story Asking Rental Rates
Office (FS)
Flex (NNN)
research & forecast report | Q2 2013 | office use | baltimore region - bwi area
ti dumn/mil bn d by clli
Inninl dviing nd gnl inmi
nly. clli Inninl mk n gun
nin wni ny kind, x
imlid, gding inmin inluding, bu n
limid , wni nn, uy
uy inmin. ti ubliin i
yigd y clli Inninl nd/
i lin(). 2013. all ig vd.
researcher:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s
sui 1710Blim, MD 21201
TeL +1 443 543 1222faX +1 443 543 0191
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8/22/2019 2Q2013 CIB Office Reports
15/18
research & orecast reportharford county | BaLtIMorE rEGIon
.llie.m/geeblime
Q2 2013 | OFFICE USE
Harford County Market Report
MarkEt dEfInItIon
t hd cuny ubmk i ld ximly 25 mil n Blim ciy n
dnd by I-95 nd ru 1 cid. t inlud ll mk Bl ai, abdn
hv d G. t abdn pving Gund i l ld in hd cuny. ti mk n
129 i nd ju v 4,100,000 qu xiing . In 2nd qu 2013 b
900,000 qu w vn.
MarkEt ovErvIEw
Vny in hd cuny ubmk
ninud i 22.3% u m 21.1% w
i ndd in l qu. ovll vg
nl dd igninly $24.21
m $25.93 . cl a nl l
dmilly $28.45 m $30.54, wil
cl B imvd m $19.60 m
$22.57 . singl y building vg
vny jumd igninly 21.9% m
16.7%, wil muliy building vny
yd bu m 23.4%
t hd cuny ubmk i ily
qui i y, iul wi gd
gvnmn n nd Brac ld
iviy. t gnl ling nd bn
nn dwniz i wn i
l u. M Lnin s. Jn
pi iviy i i
dwn, bu nd w l w ignd
Gudin Gwy Mculy Bwn 3,0
nd adm cmmuniin 2,600 .
rn i i vging mid
$30 s n building nd $14 NNN
f i.
MarkEt IndIcators
Q1 2013 Q2 2013
vacancy
nEt aBsorPtIon
constructIon
rEntaL ratE
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8/22/2019 2Q2013 CIB Office Reports
16/18.llie.m/meme
aling u
ti dumn/mil bn d by clli
Inninl dviing nd gnl inmi
nly. clli Inninl mk n gun
nin wni ny kind, x
imlid, gding inmin inluding, bu n
limid , wni nn, uy
uy inmin. ti ubliin i
yigd y clli Inninl nd/
i lin(). 2013. all ig vd.
uPdatE
rEsEarchEr:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s
sui 1710Blim, MD 21201
tEL +1 443 543 1222faX +1 443 543 0191
482 in62 uni n6 ninnUnid s: 140cnd: 42
Lin ami: 20
ai pi: 195eMea: 85
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
research & forecast report | Q2 2013 | office use | baltimore region - harford county
0
50
100
150
200
250
300
2009 2010 2011 2012 2013
Thousands
Net Absorption
7.0%
9.0%
11.0%
13.0%
15.0%
17.0%
19.0%
21.0%
23.0%
25.0%
27.0%
Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013
Vacancy Rate
$22.00
$23.00
$24.00
$25.00
$26.00
$27.00
$28.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Multistory Asking Rental Rates
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Single Story Asking Rental Rates
Office (FS)
Flex (NNN)
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8/22/2019 2Q2013 CIB Office Reports
17/18
research & orecast reportHOWARD COUNTY | BALTIMORE REGION
www.collier.com/greaterbaltimore
Q2 2013 | OFFICE USE
MARkET INDICATORs
Q1 2013 Q2 2013
VACANCY
NET ABsORPTION
CONsTRUCTION
RENTAL RATE
Howard County Market Report
MARkET DEfINITION
t hwd cuny ubmk i ld bwn Blim MD nd Wingn D.c. lng
in I-95 id. t ubmk i mid 378 building nd bu 18,200,000 qu
. In 2nd qu 2013 ju und 2,200,000 qu w v
t ubmk b n xmly udy Lndld l wi reIt nd ll dvl u
c o pi tu, i pm Mngmn, LLc, Gnl Gw p
abm Dvlmn nd Mi lding k.
MARkET OVERVIEW
ovll vny dd ligly 11.7%,
nd vny i xd d di
uu dlivi i y. singl y vny
dd ligly 10%, did muliy
i wi dd 12.5% m 13%.
ovll nl $23.58 m
$23.41 . cl a ikd u
mmnum nd $24.81 m $23.69
, did cl B nl wi w
lig bum $23.35 m $23.21 .
NwDy Usa mvd i mny
dqu 8160 Ml Lwn Bulvd,
king v 50,000 . advng
engining ignd 11,024 l 7070
smul M Div dubling i iz. o
xnin inlud advnd pgm wi
ind 15,216 7090 clumbi Gw
Div. suul In bug 10150 old clum
pik $4.05 millin w y ln mv
i dqu. o ignin
nin inlud Dyni king 11,690
9108 Guild rd. Bxly rly ld n
w nd 8894 snd Bulvd
$295 qu . a dvlmn,
nuin i unly undwy
Wl d wi will b uying b
f m ru cmny building
Lil puxn pkwy.
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8/22/2019 2Q2013 CIB Office Reports
18/18
aling u
ti dumn/mil bn d by clli
Inninl dviing nd gnl inmi
nly. clli Inninl mk n gun
nin wni ny kind, x
imlid, gding inmin inluding, bu n
limid , wni nn, uy
uy inmin. ti ubliin i
yigd y clli Inninl nd/
i lin(). 2013. all ig vd.
UPDATE
REsEARCHER:Ndi KlVi pidn, r &tnin Mngmn | Blim100 N cl s
sui 1710Blim, MD 21201
TEL +1 443 543 1222fAX +1 443 543 0191
482 in62 uni n6 ninnUnid s: 140cnd: 42
Lin ami: 20
ai pi: 195eMea: 85
$2 billion in annual revenue
1.12 billion square feet under
management
Over 13,500 professionals
-100
0
100
200
300
400
500
600
2009 2010 2011 2012 2013
Thousands
Net Absorption
10.0%
11.0%
12.0%
13.0%
14.0%
15.0%
16.0%
Q3 2009 Q3 2010 Q3 2011 Q3 2012 Q2 2013
Vacancy Rate
$23.00
$23.20
$23.40
$23.60
$23.80
$24.00
$24.20
$24.40
$24.60$24.80
$25.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Multistory Asking Rental Rates
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Single Story Asking Rental Rates
Office (FS)
Flex (NNN)
research & forecast report | Q2 2013 | office use | baltimore region - howard county