MARKET TRENDS

• Baltimore recorded 0.9 million square feet of leasing activity in Q4 2023 which was the only quarterin 2023 to exceed the five-year averagE leasing volume of 0.8 million square feet.
• Availability rates had steadily increased in 2023 ending the year at 17.4%, a rise of 60 basis points from the previous year as tenant-favorable market conditions persist.
• Return to office remains a primary consideration in decision-making by occupiers and will continue to influence activity levels in 2024.

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