Locate Baltimore Office Spaces Here:

Baltimore, Maryland has a vast amount of diversified history attached to its name. This was the birth place of the ‘The Star - Spangled Banner’, the national anthem of the United States, written by Francis Scott Key in 1814. With a current population of 760,919 people, it has come a long way. It is one of those cities that early settlers populated and then moved from to seek new ventures. The growth rate here in Baltimore is recorded to be an average of 5% with a higher growth rate in neighboring counties running from twenty to thirty percent. Search our Baltimore office spaces and executive suites. Other surrounding areas that are popular include: Essex, Elkridge, Federal Hill, Fort Meade, Laurel, Pikesville, Savage, Towson and White Marsh.

Baltimore Corporations and Major Companies:

Baltimore Md. has since diversified its economic base from being a manufacturing hub to a more service industry based economy. This sector has provided a lot of jobs in the financial, corporate and health sectors. Some large corporations that maintain their company here include Black & Decker, Constellation and Grace Chemicals (who occupy large professional buildings) among others. Some of the other major cities that have a booming commercial real estate industry are Cincinnati, Boston, and Philadelphia. The famous John Hopkins Hospital is also based here in the city and has quite recently moved into the biotech sector by becoming the center for a new biotechnology park. The health care sector is said to be the front runner in bringing Baltimore back from the economic recession. One other interesting fact unique about Baltimore is that thousands of military personnel under the BRAC Act will be moving to Baltimore and its surrounding areas in the next few years which will have some affect on the local Baltimore office space market.

Commercial Real Estate Development In Baltimore:

The economic development of Baltimore is led by The Baltimore Development Corporation (BDC) which provides development advice to the city. BDC is a non profit corporation and so the organization can look at developments that will benefit the people without any invested interest. According to a report by Cushman & Wakefield Inc., the office space market was badly hit this last couple of years not unlike the nationwide trend. They are however optimistic that Baltimore is in the right position to manage well with the economic turnaround that is currently happening. To learn about other cities or view office spaces available for lease go here.

Baltimore Office Space Prices / Vacancy Rates:

Average vacancy rates have been around 13.2% in the metropolitan area but the office vacancy rate here is relatively low - compared to most other cities. The current average office rental per square foot is around $23 - depending on location and amenities (admin support, security, internet, furnished units, etc.). Crime rates in Baltimore have been rather high,especially with homicide at a record level. Downtown Baltimore is the central hub for businesses in the Baltimore metropolitan area and there you will find many good deals on Baltimore office spaces. The Inner Harbor famous as a tourist attraction is said to get over 13 million visitors annually. It was also chosen as one of the most attractive vacation destinations in the world. The 10 Inner Harbor, Baltimore’s tallest skyscraper, is also a fascinating sight to behold. The Market Center and many newly developed areas have made this the preferred residential area and are very much in demand. Mt. Vernon is another place famous for its exciting nightlife. Baltimore, Maryland is attractive as a preferred neighborhood and a health industry based city and this is why, they are poised to do well in the coming years. For more info on Baltimore check here.