•Leasing volume totaled 581,265 sq. ft. in Q2 2018. The market continued to experience a significant number of renewals, with users such as Pepsi-Cola and CannonDesign renewing for a total of 35,332 sq. ft.

•The appeal of a live-work-play environment continues to trigger construction in Columbia, White Marsh, and Towson.  Projects in these three submarkets account for more than 20% of the Baltimore market’s current development pipeline, with additional projects expected to break ground in the next 12-24 months. In June, Greenberg Gibbons and Caves Valley, moved forward with the much anticipated construction of the $350 million Towson Row development.  Plans include 1.2 million sq. ft. of commercial and residential development, including two hotels and 300 off-campus housing units for Towson University students.  150,000 sq. ft. of office space is expected to go vertical in 2019 with completion scheduled for 2020.  The county estimates that 2,000 full-time jobs and up to $220 million in revenue will be created by the project’s completion.

•Investment sales volume decreased more than 51%; with only $270 million worth of assets traded in H1 2018, compared to $562 million in H1 2017. Private and institutional capital respectively accounted for 55% and 45% of total activity so far this year.