Please provide a location to search for

Office Space for Rent in Baltimore City, MD - 194 Listings

Baltimore, MD Office Overview

Location Photo

Maryland’s Baltimore city office market includes the Ellicott City, Linthicum Heights, and Dundalk MD commercial real estate submarkets. With a metropolitan population of almost 2.8 million people, Baltimore is the largest seaport on the Mid-Atlantic coast. The diversified economy of Baltimore draws from the tourism, entertainment, finance, and educational sectors that all help to create demand for Class A office space in Baltimore.

As of mid-2017, the Greater Baltimore office market encompasses nearly 29 million square feet of existing office space in properties larger than 50,000 square feet. According to the Brookings Institute, over 25% of the workforce in Baltimore is employed in the STEM industries of science, technology, engineering, and mathematics.

Baltimore, MD Office Inventory Description

Forbes has ranked Baltimore among the top 100 best places for business and careers and one of the top 30 cities for education. This, combined with the demand for white collar office space from the STEM employment sector, helps to drive the Baltimore City commercial real estate market. With a gross metropolitan product of nearly $180 billion annually, the demand for Class A office space in Baltimore is exceedingly strong. Nearly 49% of the office space in Baltimore is Class A or A+ product, while Class B inventory adds another 51% of office space to the market.

Some of the most robust demand for Class A office space in Baltimore can be found in the Downtown Baltimore office submarket. Located just west of I-83 between Lombard and Mulberry Streets, this area is home to world-class office buildings such as One Charles Center, The Gallery At Harborplace Office, and the Wells Fargo Tower on 7 St. Paul Street.

Baltimore City, MD Commercial Inventory Breakdown

Office Spaces

Total: 35,743,083 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 3,605,093 SF / 10.09% of total office
  • 100k to 500k SF: 19,589,027 SF / 54.81% of total office
  • 500k to 1M SF: 7,021,653 SF / 19.64% of total office
  • > 1M SF: 5,527,310 SF / 15.46% of total office

By class:

  • Class A+: 650,000 SF / 1.82% of total office
  • Class A: 14,107,255 SF / 39.47% of total office
  • Class B: 13,212,828 SF / 36.97% of total office
  • Class C: 258,065 SF / 0.72% of total office

Top 10 Largest Office Buildings

in Baltimore

Office building Address Sqft Year built
Under Armour Global Headquarters SEC East Cromwell Street & West Peninsula Drive, 21230 2,928,500 n/a
Port Covington - Phase 3 SWC Key Hwy & Interstate 95, 21230 1,394,000 n/a
Montgomery Park 1800 Washington Blvd, 21230 1,204,810 2002
Port Covington - Phase 4 SWC Key Hwy & Interstate 95, 21230 930,000 n/a
Metro West Building - 400 North Greene Street 400 North Greene Street, 21201 791,110 1978
100 East Pratt Street 100 East Pratt Street, 21202 653,000 1975
Legg Mason Tower 100 International Drive, 21202 650,000 2009
Exelon Building 1310 Point Street, 21231 648,000 2016
Port Covington - Phase 5 SWC Key Hwy & Interstate 95, 21230 600,000 n/a
NIH Biomedical Research Center 251 Bayview Blvd, 21224 573,000 2007

Most Recently-Built Office Buildings

in Baltimore

Office building Address Sqft Year built
One Light Street 1 Light Street, 21202 493,398 2018
McHenry Row III 1265 East Fort Avenue, 21230 76,612 2018
Stadium Square - 145 Ostend Street 145 Ostend Street, 21230 72,000 2017
Exelon Building 1310 Point Street, 21231 648,000 2016
Science + Technology Park at John Hopkins - 1812 Ashland Avenue 1812 Ashland Avenue, 21205 170,000 2016
6100 Wabash Avenue 6100 Wabash Avenue, 21215 538,000 2014
415 North Washington Street 415 North Washington Street, 21231 48,360 2014
Riverside Wharf 1420 Key Hwy, 21230 45,000 2014
The Harry & Jeanette Weinberg Building 3540 South Hanover Street, 21225 26,546 2014
St. Agnes Hospital - Angelos Medical Pavilion 3407 Wilkens Avenue, 21229 85,800 2013

Baltimore, MD Green Office Space

Employment

According to the 2017 National Green Building Adoption Index, which surveyed 30 major office markets in the U.S., Baltimore ranks 24 th for energy-efficient, green office buildings. With the survey looking only at office buildings larger than 50,000 square feet, over 4% of these office buildings in Baltimore are LEED-certified and nearly 4.5% are EPA Energy Star Certified.

One example of a Baltimore LEED-certified office building is the Windsor Corporate Park on 2560 Lord Baltimore Drive. This 71,000-square- foot property was built in 2005, is located in the Milford Mill neighborhood of suburban Windsor Mill, and proudly boasts a LEED Gold certification.

Interestingly, the 2017 Adoption Index discovered that since 2005, the overall percentage of green, energy-efficient office buildings in the top 30 major U.S. office markets has increased from less than 5% in 2005 to 38% by mid-2017.

Baltimore, MD’s Top Office-Using Sectors

The commercial real estate market in Baltimore City MD, and in particular the robust demand for Class A office space and white collar office space, is driven in large part by the top office- using sectors of the Federal government, healthcare & education, finance, and large corporate office space users.

  • Federal Government – The Social Security Administration, and the Centers for Medicare and Medicaid are some of the top employers and users of office space in Baltimore.
  • Healthcare & Education – Demand for white collar office space is created by institutions such as the Greater Baltimore Medical Center, Towson University, Franklin Square Hospital, and the University of Maryland St. Joseph Medical Center.
  • Finance – White collar office employment from this top office-using sector in Baltimore comes from companies such as T. Rowe Price, Bank of America, and the World Trade Center Baltimore.
  • Corporate Offices – Some of the largest companies and users of Class A office space in Baltimore include Under Armour, Cordish Company, Legg Mason, McCormick & Company, BD Life Science Diagnostic Systems, and Lockheed Martin.

Baltimore City Demographics

Population

  • Total Population579,585
  • Male Population(47.1 %) 272,957
  • Female Population(52.9 %) 306,627
  • Median Age35.00

Income/Financial

  • Average Household Income$72,559
  • Median Household Income$50,975
  • Median Income Under 25$27,669
  • Median Income 25-44$55,974
  • Median Income 45-64$54,130
  • Median Income Over 65$33,969

News

Since 2009, the U.S. economy has had more than 110 consecutive months of growth, making this the second longest economic expansion since the Great Depression. After a rather tepid 2017 performance, the U.S. office market gathered some steam in 2018, adding 76 million square feet of new office sp...

According to a recent survey, roughly 4 million U.S. employees work from home at least half of the week, and that number is still growing. Changing patterns of work have brought disruptions not only to the traditional office scene, bringing forth a widening range of coworking workplaces, but als...

We’re almost halfway through H2 2018, and it’s high time to check up on construction activity, as well as the state of the U.S. office pipeline when compared to previous analyses. Last year around the same time, we looked at top U.S. cities for office delivery during the fall-winter season, and ...