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Rockville, MD Commercial Real Estate

133 Commercial Properties Available in Rockville, MD

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    15245 Shady Grove Road, Rockville, MD 20850
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    1401 Rockville Pike, Rockville, MD 20852
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    5600 Fishers Lane, North Bethesda, Rockville, MD 20852
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    9704 Medical Center Drive, Rockville, MD 20850
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    1330 Piccard Drive, Rockville, MD 20850
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    9605 Medical Center Drive, Rockville, MD 20850
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    702 King Farm Blvd, Rockville, MD 20850
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    9601 Blackwell Road, Rockville, MD 20850
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    9713 Key West Avenue, Rockville, MD 20850
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    2600 Tower Oaks Blvd, Rockville, MD 20852
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    9201 Corporate Blvd, Rockville, MD 20850
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    30 West Gude Drive, Rockville, MD 20850
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    600 Jefferson Plaza, Rockville, MD 20852
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    51 Monroe Street, Rockville, MD 20850
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    2092 Gaither Road, Rockville, MD 20850
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    1451 Rockville Pike, Rockville, MD 20852
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    451 Hungerford Drive, Rockville, MD 20850
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    2000 Tower Oaks Blvd, Rockville, MD 20852
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    1101 Wootton Pkwy, Rockville, MD 20852
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    2101 Gaither Road, Rockville, MD 20850
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    11420 Rockville Pike, North Bethesda, Rockville, MD 20852
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    15201 Diamondback Drive, Rockville, MD 20850
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    6 Taft Court, Rockville, MD 20850
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    414 Hungerford Drive, Rockville, MD 20850
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    14920 Broschart Road, Rockville, MD 20850
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Rockville, MD Economic Overview

Location Photo

One of Maryland’s oldest towns, Rockville is a central city located in Montgomery County, forming part of the Baltimore-Washington metropolitan area. Rockville is home to 64,331 residents and is at the core of the Interstate 270 Technology Corridor. The Corridor is home to numerous software and biotechnology companies, as well as several federal government institutions. Rockville has grown very rapidly from a leisurely, agriculturally-orientated county seat to a cosmopolitan city with many neighborhoods. The city also has several upscale regional shopping centers, making the Rockville commercial real estate market a major hub in Montgomery County.

Rockville’s economy continues to expand with strong performance and has historically been a major economic hub with over 75,000 jobs. Part of a regional economy, Rockville showcases many different job clusters and commuting patterns between employees’ work locations and where they live. Up to 15% of Rockville’s residents also work in the city, meaning that 85% commute outside the city for work. Although a relatively quiet city, Rockville is located on the Interstate 270 Highway (I-270), connecting the city to an iconic strip of biotech firms. This includes healthcare firms like Emergent BioSolutions, Human Genome Sciences, and Adventist Healthcare. Overall, Rockville is a desirable location in the growing Metropolitan Washington region with both key private and public sector employment, including Montgomery College and the nearby campus of the Universities of Maryland and the recently constructed National Cancer Institute.

Rockville, MD Commercial Real Estate Market

Rockville’s office space accommodates over 49,100 jobs in the city, representing 63% of all Rockville jobs. There are a variety of office spaces in the city, including individual buildings, such as those in Town center and along Rockville Pike, or in campus office parks. The majority of office employment is located along Rockville Pike, Research/King Farm/Piccard/Fallsgrove, Town Center and Tower areas in 600 acres or 8.5% of the total city land area. This amounts to over 12 million square feet of total office space, with more than 42% of Rockville’s office jobs located in the I-270 corridor. While the federal government’s Freeze the Footprint initiative to reduce the amount of private space leased has resulted in some reduction, office space related employment is projected to grow through to 2040, and the city has made the necessary proposals for new, additional office developments.

Rockville Town Center is a thriving and increasingly attractive downtown core and offers a mix of office space, restaurants, services, culture and government uses, now including a full-service headquarters hotel. It currently hosts the majority of the city’s employment outside of the education sector. Local government generates a large amount of activity here and supports many Town Center private-sector activities, including retail, restaurants, medical office and general office space. The Rockville Town Center commercial real estate market is a highly competitive area for commercial real estate throughout the region, and offers over 3.1 million square feet of office space, including for firms in the biomedical sector. Other biomedical firms are located throughout the city.

Research/Piccard/King Farm is the largest employment region in the Rockville city area, offering over 21,000 jobs. The Rockville Research/Piccard/King Farm office market includes over 15.2 million square feet of office space in the North West of the city. The Research/Piccard/King Farm area is the largest area of concentrated office space along the I-270.

Rockville Pike is located at the south end of the city and includes just over 1.5 million square feet of office space. The Rockville Pike office market is also nearby neighboring office parks in Rock Spring and Executive Boulevard.

Rockville Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Rockville Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Employment in Rockville, MD

Employment

Rockville jobs are primarily knowledge-based, with a high concentration of jobs in public administration, professional, scientific and technical services, education services, and healthcare. Local government and education are among the highest employers. Local government, in its many forms, is a key anchor for the health of Rockville’s Town Center and has created many spinoff employment opportunities in the area.

According to the Bureau of Labor Statistics, the following sectors employ the most people in the region:

  • Professional and business services – currently employs 131,100, growing at 2.8%/year;
  • Government – currently employs 114,500, growing at 1.9%/year;
  • Education and Health Services – currently employs 92,500, growing at 1.3%/year.

Education in Rockville, MD

Rockville is home to Montgomery College (Rockville Campus), as well as satellite campuses of the University of Maryland University College, the John Hopkins University Montgomery County Campus, and the University at Shady Grove. Rockville is served by Montgomery County Public Schools, which include three high schools in the area. There are also three major private high schools in Rockville.

Commuting Time in Rockville, MD

Rockville is frequently commuted to by workers coming from outside the city—only 14.9% of Rockville’s resident workforce lives and is employed in the city. Just about 56% of total Rockville residents commute less than 10 miles to work and only 47.6% of Rockville workers commute less than 10 miles to work.

The Red line of the Washington metro rail system serves the Rockville and Twinbrook station, and the Brunswick Line of the MARC commuter rail system, running to and from Washington, DC, at the Rockville Station. Amtrak also provides intercity train service to Rockville from Pittsburgh, Chicago, and Washington, DC.

Rockville Demographics

Population

  • Total Population138,154
  • Male Population(48.1 %) 66,508
  • Female Population(51.9 %) 71,647
  • Median Age39.00

Income/Financial

  • Average Household Income$126,287
  • Median Household Income$99,058
  • Median Income Under 25$51,667
  • Median Income 25-44$98,398
  • Median Income 45-64$122,768
  • Median Income Over 65$75,777

News

HFF announced it has brokered the sale of Meritage Properties’ Shady Grove Plaza, located in Rockville, Md., a highly desirable Washington DC suburban office market. The four-story, 184,290-square-foot office building at 15245 Shady Grove Road is located in the Interstate 270 corridor of Montgom...

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