Baltimore City, MD Commercial Real Estate

Baltimore, MD Commercial Real Estate Market

Situated in north-central Maryland, Baltimore stretches over 90 square miles, of which more than 80 square miles is dry land. The city is officially made up of nine neighborhoods divided by geographic regions.

A tour of Baltimore’s economic landscape would certainly begin in Central/Downtown Baltimore which boasts 29.1 million square feet of Downtown Baltimore office space. Subsequently, this area, already home to hundreds of companies, is considered to be the city’s main economic asset and continues to be the city’s lifeline, with its dynamic commercial and cultural activity.

Most of Central Baltimore is Downtown and Downtown West commercial real estate with historic Inner Harbor its chief commercial and tourist destination. Over 13 million people are attracted annually by the area’s hotels, restaurants, and spaces devoted to retail and entertainment, such as Harborplace and Power Plant Live! The area is also home to Baltimore’s world-class sport complexes like Oriole Park at Camden Yards and the Baltimore Arena.

The North Baltimore office market utilizes its prime location to accommodate an abundance of educational institutions like Notre Dame of Maryland University, Johns Hopkins University Homewood Campus, and Baltimore Polytechnic Institute. The last-named is a public high school that specializes in mathematics, science, and engineering, one among many such institutions that contribute to the city’s profusion of tech talent early on. Finally, North Baltimore is also home to the uniquely developed Station North Arts and Entertainment District, more popularly called Station North, the city’s official arts and entertainment district. Here, artistically-leaning commercial ventures, such as museums and theaters, make use of formerly abandoned warehouses that have been converted to practical North Baltimore office market space.

Another neighborhood of note lies on the city borders of Inner Harbor/Central Baltimore, Southeast Baltimore. This region is home to the state of Maryland’s largest arts and entertainment district, Highlandtown Arts District or “ha!” Here, artists make use the rich Southeast Baltimore office market to live and work in a neighborhood famed for its cultural diversity. South Baltimore also includes the city’s most popular neighborhood, Canton, with its expansive waterfront Canton industrial real estate.

Employment in Baltimore, MD

31% of jobs in Baltimore are in the service industry, with John Hopkins University and Johns Hopkins Hospital being the city’s biggest employers. However, 23% of jobs in the city are in Science, Technology, Engineering, and Math, otherwise known as STEM jobs, according to the latest reports by Brookings Institution, a Washington, D.C. think tank.

That percentage of Baltimore’s local employment equals approximately 281,730 STEM jobs, and it has placed Baltimore 8th out of a hundred metropolitan cities in STEM job concentration. While these positions include maintenance and repair experts who require no university education, 57% of Baltimore’s STEM workforce are college-educated and have an average annual income of $87,857.