Suburban Maryland Industrial Figures Q1 2026

The Suburban Maryland industrial market recorded healthy fundamentals during the first quarter. Net absorption rebounded to 538,000 sq. ft., up 475,000 sq. ft. from Q4 2025 levels. Despite the strong occupancy gains, vacancy remained static quarter-over-quarter at 6.9%, though slightly above the 6.4% recorded a year earlier and well above the 2.7% low reached in Q4 2022. Availability saw a moderate increase to 10.8% from 10.2% a quarter prior.

Three properties delivered in Q1 2026, with two vacant deliveries contributing to the unchanged vacancy rate. The construction pipeline decreased to 825,000 sq. ft., down from 1.9 million sq. ft. in Q1 2025. Pricing remained firm: the average asking rate reached $14.35, up $0.31 year‑over‑year but $0.15 lower than in Q4 2025, as landlords maintained rate discipline even as conditions normalized from prior tightness.