Suburban Maryland Industrial Figures Q2 2026

During the second quarter, net absorption across the Suburban Maryland industrial market was negative 48,000 sq. ft., following positive net absorption in the prior quarter. Vacancy increased slightly to 7.0% and availability increased to 11.2%, up 40 basis points (bps) quarter-over-quarter. The average asking rent held steady at $14.34 per sq. ft. per annum on a triple net basis (NNN).

Over the past four quarters, net absorption totaled 697,000 sq. ft. During the same period, new deliveries reached about 1.4 million sq. ft. Despite the occupancy gains, the vacancy rate sits at a high not seen since the fourth quarter of 2018. Leasing activity was sparse, totaling just 577,000 sq. ft. for the quarter. However, tenants are currently shopping for over 2.2 million sq. ft. of space across both Prince George’s County and Frederick County.