MARKET TRENDS

• Vacancy continued upward following a second consecutive quarter of negative net absorption, totaling -687,378 square feet (sf) in the second quarter and now -1.9 million square feet (msf) year to date.
• The quarter’s largest move-outs stemmed from the Harford/Cecil County and Annapolis submarkets as Americold and Whitebox vacated about 360,000 square feet (sf) each.
• Baltimore’s position as both a strategic logistical hub and center of consumer demand was further illustrated by Ryder’s 1.0-msf commitment at Hillwood’s Bainbridge Logistics Center.

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