The office vacancy rate in the Baltimore market area increased to 13.5% at the end of the first quarter 2011. The vacancy rate was 13.4% at the end of the fourth quarter 2010, 13.5% at the end of the third quarter 2010, and 13.4% at the end of the second quarter 2010.
Class A projects reported a vacancy rate of 16.3% at the end of the first quarter 2011, 16.9% at the end of the fourth quarter 2010, 17.1% at the end of the third quarter 2010, and 16.7% at the end of the second quarter 2010.
Class B projects reported a vacancy rate of 12.7% at the end of the first quarter 2011, 12.3% at the end of the fourth quarter 2010, 12.4% at the end of the third quarter 2010, and 12.5% at the end of the second quarter 2010.
Class C projects reported a vacancy rate of 10.2% at the end of the first quarter 2011, 9.7% at the end of fourth quarter 2010, 10.0% at the end of the third quarter 2010, and 9.9% at the end of the second quarter 2010.
The overall vacancy rate in Baltimore's central business district at the end of the first quarter 2011 decreased to 15.8%. The vacancy rate was 16.4% at the end of the fourth quarter 2010, 16.5% at the end of the third quarter 2010, and 16.5% at the end of the second quarter 2010.
The vacancy rate in the suburban markets increased to 13.0% in the first quarter 2011. The vacancy rate was 12.7% at the end of the fourth quarter 2010, 12.9% at the end of the third quarter 2010, and 12.8% at the end of the second quarter 2010.
The information in this news report is based on information that appears in CoStar’s First Quarter 2011 Office Market Report available to CoStar subscribers. To learn more about quarterly Office Market Reports and other benefits available to CoStar subscribers, please call 1-877-694-2177.