Suburban Maryland

The Suburban Maryland office market, which encompasses Montgomery and Prince George’s Counties, totals approximately 90.2 million square feet of rentable space in 898 office buildings of 25,000 square feet and greater. The market recorded a decrease in net absorption in the second quarter of 2021 with -48,112 square feet absorbed, down from the 729,706 square feet absorbed in the previous quarter. Although net absorption was negative, a bright spot was the delivery of RegenXBio’s 174,640-square-foot headquarters at 9804 Medical Center Drive in Rockville. Direct vacancy increased to 13.5% in the second quarter 2021, up from 13.4% in the first quarter 2021, and total vacancy remained flat at 14.5% in the second quarter 2021. The largest lease signed this quarter was the U.S. Consumer Product Safety Commission signing a 126,266-square-foot lease at 4330 East-West Highway in the Bethesda / Chevy Chase submarket. The year-over-year unemployment rate in Suburban Maryland decreased to 5.5% in May 2021, down significantly from 8.3% in May 2020. Unemployment in Suburban Maryland remained below the national unemployment rate of 5.8% in May 2021. From May 2020 to May 2021 employment in Suburban Maryland saw a net increase of 19,224 jobs.

Privacy Policy applies to data our site collects from users (including all the social media accounts). It’s also required to comply to places with most restricted privacy laws such as in EU (EU General Data Protection Regulation) and in CA (California Online Privacy Protection Act & California Consumer Privacy Act). For more information, read our Privacy Policy.