Find Office Space in Baltimore, MD
Baltimore is strategically located and functions as a national and international relations hub. The Port of Baltimore, the third largest port in the nation, supports a vibrant trade community, along with the Conrail, CP Rails Systems and CSX railroads which all have ready access to interchanges of four interstate highways.
Baltimore's accessibility is further enhanced by The Baltimore-Washington Airport (BWI), and the city is investing $1 billion over seven years in an improvement and expansion project for this, the nation's fastest growing airport. Downtown Baltimore is home to many businesses including top-ranking medical facilities such as Johns Hopkins Hospital and the University of Maryland medical facility.
Since reaching a vacancy rate of 17.2% in 2010, the rate in Baltimore has reduced to 16.4% through the 1st quarter of 2011, with most of the growth being in the suburbs. This growth, however, may be affected in the future by the completion of significant new office space in the suburbs. Rent rates, through the 1st quarter of 2011, have continued their 12 quarter trend of decreasing, with rates averaging $22.63 per square foot in the city and a $22.21 average for the Baltimore metro area.