MARKET TRENDS

• Baltimore's Q1 2024 leasing activity met the five-year average for the second consecutive quarter, due to a large government deal that made up nearly half of all leasing volume
• Up 120 basis points year over year, Baltimore's 18.3% availability rate reached a new high in Q1, creating ample opportunities for tenants who are considering relocation
• With the widespread adoption of hybrid work models, expect to see a growing number of tenants leveraging these policies to influence their leasing decisions

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