Asking Price No Longer Seems so High for Few Office Vacancies Left in Annapolis

Summary

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The Greater Annapolis office market, like much of the Baltimore- Washington corridor, is seeing strong, and increasing, demand for office space. The Annapolis market now has the Baltimore metropolitan area's second-lowest vacancy rate at 12 percent, trailing only the BWI airport market at 7 percent.

One reason the Annapolis submarket is seeing such interest is because activity in other parts of the corridor - especially near the National Security Agency and Baltimore/Washington International Airport - is making the state capital not seem so expensive anymore.

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Extract

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Asking Price No Longer Seems so High for Few Office Vacancies Left in Annapolis

Annapolis has always been pricier than other parts of the corridor, but the difference is down to just a couple dollars per square foot, says CB Richard Ellis Senior Vice President James Lighthizer Jr. Before, the rent delta was significant. Now, the rent delta i...

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