Baltimore city serves as a bustling office stock. Its downtown area is one of the most recognizable economic assets of the region, home to Rendia, Maryland Science Center, Tissue Analytics, etc. This business district of Baltimore alone boasts more than 29 million sq.ft. of office space. Yet, other commercial areas like Inner Harbour, I-83 corridor, a zone around Mount Vernon, etc. also propose offices for rent. Baltimore’s commercial real estate market boasts sophisticated office solutions of various types: serviced, traditional, flexible, coworking, virtual, etc. Mixed-use formats(a combination of retail, office, residential and hotel developments) are also available on the market. The leasing activity and the rental rates remain steady in the office stock of Baltimore. In the case of traditional office rental, tenants are expected to pay around $24 per sq.ft. Yet, prime office spaces in the top areas of Baltimore are leased for approximately $30-32, accordingly. The average price for a desk in a shared office suite is $200-300 per month. The City Midtown has the lowest office vacancy rates(7,2%), while the East of Baltimore boasts the highest direct vacancy(30,1%).
