Suburban Maryland Industrial Figures Q3 2026

The Suburban Maryland industrial market recorded moderate activity in Q3 2026 and fundamentals remain stable. Following a prolonged period of tightening that saw vacancy decline by 580 basis points (bps) between 2016 and 2022, the market has gradually recalibrated as new inventory has been delivered, and tenant demand has normalized. The market saw occupancy gains during Q3 2026 but also saw two vacant deliveries in Prince George’s County, causing the vacancy rate to remain unchanged quarter-over-quarter.

Demand was positive, even as the market continued to digest elevated availability and new construction. Net absorption totaled 195,000 sq. ft., negating the minimal occupancy losses seen in Q2 2026. Asking rents averaged $14.53 per sq. ft., a marginal increase of 1.3% quarter-over-quarter and a 3.6% increase year-over-year. Under construction area stood at 707,000 sq. ft. Deliveries of 270,000 sq. ft. continued to add space to the inventory, even as the pipeline was below its recent peak.