2020 Office Space Rent & Sales
- $22.95 2020 Avg. Asking Rent
- -0.26% Y-o-Y Avg. Asking Rent Change
- 13.54% 2020 Office Vacancy Rate
Towson office price per square foot in 2020 was $22.95 on average. This marked a -0.26% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.54% across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Towson Class B Office Space$23.09
- Towson Class C Office Space$20.43
- Maryland Class A Office Space$32.41
- Maryland Class B Office Space$25.12
- Maryland Class C Office Space$19.46
Towson, MD Office Asking Rents by Class
2020 Office Construction in Towson, MD
- Towson, MD Total SF completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Towson office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|6300 Blair Hill Lane||6300 Blair Hill Lane, 21209||88,204||2015|
|The CFG Tower||1422 Clarkview Road, 21209||54,600||2008|
|501 Fairmount Avenue||501 Fairmount Avenue, 21286||88,000||2006|
|GBMC Physicians Pavilion North||6535 North Charles Street, 21212||117,122||2005|
|Bare Hills Corporate Center - 1425 Clarkview Road||1425 Clarkview Road, 21209||45,000||2005|
|Bare Hills Corporate Center - 1423 Clarkview Road||1423 Clarkview Road, 21209||40,000||2005|
|Bare Hills Corporate Center - 1427 Clarkview Road||1427 Clarkview Road, 21209||49,000||2003|
|Radio Park||1220 East Joppa Road, 21286||223,884||1996|
|GBMC Physicians Pavilion West||6569 North Charles Street, 21204||95,384||1993|
|Towson Commons||1 West Pennsylvania Avenue, 21204||212,000||1992|
Worth noting among recent office completions on the Towson market is 6300 Blair Hill Lane, which is currently the largest new office development in the city, at 88,204 square feet.
See reports for nearby markets
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Towson commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.