Baltimore Industrial Figures Q2 2026

In Q2 2026, the Baltimore industrial market showed signs of tentative stabilization. Net absorption turned positive at 288,000 sq. ft. after a sharp loss in the prior quarter. Vacancy held steady quarter-over-quarter but stands 80 basis points (bps) higher year-over-year. Leasing was strong and tenants signed six bulk renewal leases totaling 2.3 million sq. ft., underscoring sustained demand for large blocks of space.

On the supply side, space under construction totaled 2.1 million sq. ft. and developers delivered 218,000 sq. ft. of new product across two warehouses. Ground breakings have trended upward since the third quarter of 2025 and three additional properties totaling 808,000 sq. ft. broke ground in Q2 2026. The average asking rate reached $11.17 per sq. ft. in Q2, representing an increase of 1.0% quarter-over-quarter.