Baltimore I-95 North

Industrial Market Review

Current Market Trends

Rental
Rates

Leasing
Activity

Tenant
Concessions

Average rents
continue to project
upward as supply
remains constrained.
More than 1 million
square feet of net
positive absorption in
2015 demonstrates
the strength of this
market and provides
continued optimism
for future quarters.
Tenant concessions
have yet to show
signs of major
change. No major
shifts in concessional
levels are expected
in the coming
months.

Second Quarter 2015

Baltimore Metropolitan Overview

The Greater Baltimore Metropolitan area
has emerged as one of the strongest
second-tier markets in the United States.
While Baltimore is a stand-alone
metropolitan statistical area (MSA) with
over 2.7 million residents, it is also part
of the Washington-Baltimore
consolidated statistical area (CSA) with a
total population over 8 million. The
Greater Baltimore region comprises
Anne Arundel, Baltimore, Carroll, Cecil,
Harford and Howard Counties as well as
Baltimore City. As of June 2015, the
Baltimore metropolitan areas
unemployment rate was 6.2% compared
to the national unemployment rate of
5.5%.

Baltimore I-95 North Industrial Market

The I-95 North industrial market
experienced approximately 380,975
square feet of net positive absorption in
the second quarter of 2015 as the
vacancy rate decreased to 9.42%.
Overall the I-95 North market has
experienced more than 1 million square
feet of net positive absorption in 2015.
Several new buildings delivered in the
second quarter. Baltimore Crossroads
added a 100,000 square foot facility that
was partially preleased. In addition, a
192,000 square foot building was added
at 9951 Franklin Square Drive. Located
in the White Marsh Industrial area, this
facility quickly found a half-building user.

Q2 2015 Vacancy Rates &

Average Quoted Rental Rates
Vacancy Rate
Product Type

# Of Buildings

SF

91
376
226
693

2,154,058
16,061,339
47,752,330
65,967,727

Flex
Office Warehouse
Bulk
I-95 North Totals
By Submarket

SF Vacant
147,547
1,232,166
4,836,704
6,216,417

Vacancy Rate
6.85%
7.67%
10.13%
9.42%

# Of Buildings

SF

SF Vacant

Vacancy Rate

250
207
42
194
693

17,018,323
21,137,283
7,958,613
19,853,508
65,967,727

1,323,825
3,660,131
307,408
924,753
6,216,117

7.78%
17.32%
3.86%
4.66%
9.42%

City East
County East
Cecil County
Harford County
I-95 North Totals
Average Quoted Rental Rate
By Submarket
City East
County East
Cecil County
Harford County
I-95 North Averages

Flex

O/W

Bulk

Average

$11.20
$12.44
$11.76

$5.12
$7.25
$4.35
$5.63
$5.31

$4.20
$3.50
$3.04
$4.34
$3.63

$4.50
$3.55
$3.20
$4.94
$3.87
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BALTIMORE I-95 NORTH INDUSTRIAL SECOND QUARTER 2015

Behind the Numbers

For more information, contact one of

our Industrial Brokers:

11.73%

Vacancy rate of all front-loaded buildings in I-95 North with clear height
greater than or equal to 24 at the end of Q2 2013.

7.23%

Vacancy rate of all front-loaded buildings in I-95 North with clear height
greater than or equal to 24 at the end of Q2 2014.

5.70%

Vacancy rate of all front-loaded buildings in I-95 North with clear height
greater than or equal to 24 at the end of Q2 2015.

DTZ
100 Light Street
Suite 1400
Baltimore, MD 21202
T +1 410 752 4285
F +1 410 576 9031
www.dtz.com

Notable Q2 2015 Lease Transactions

Property

9951 Franklin Square Drive

White Marsh, MD

4610 Mercedes Drive

Belcamp, MD

5107 North Point Boulevard

Sparrows Point, MD

Size

96,000 SF

40,600 SF

287,602

Tenant

PALL Corp.

United Foods

C. Steinweg

Landlord

Industrial Property Trust

TA Associates Realty

Exeter Property Trust

Type

New Lease

New Lease

Renewal

Notable Q2 2015 Sales Transactions

Property
Size DTZ
About

504 Advantage Way

Aberdeen, MD

8515 / 8525 Kelso Drive

Essex, MD

1801 Clark Road

Havre De Grace, MD

528,780 SF

69,690 SF

437,564 SF

Buyer
SK Properties
FRP Development
Corp. around the Plastipak
Inc.
DTZ
is a global leader in commercial
real estate services providing occupiers,
tenants and investors
world with aHoldings,
full spectrum
of property solutions.
The companys core capabilities include agency leasing, tenant representation, corporate and global occupier services, property management, facilities
Seller
RMAcapital
Advisors
Busines
Park LLC
Constar
International,
Inc. management.
management,
facility services,
markets, investment and asset Kelso
management,
valuation,
research, consulting,
and project
and development
DTZ provides property management for 1.9 billion square feet, or 171 million square meters, and facilities management for 1.3 billion square feet, or 124 million
square
completed $63 billion in transaction volume
globally in 2014 on behalf of institutional,
corporate, government and private clients.
Price meters. The company
$31,000,000
$4,850,000
$10,800,000
Headquartered in Chicago, DTZ has more than 28,000 employees who operate across more than 260 offices in 50 countries and represent the companys
culture of excellence, client advocacy, integrity and collaboration.
DTZ announced an agreement to merge with Cushman & Wakefield in a May 11 press release. The new company, which will operate under the Cushman &
Wakefield brand, will have revenues over $5.5 billion, over 43,000 employees and will manage more than 4 billion square feet globally on behalf of institutional,
corporate and private clients. The agreement is subject to customary closing conditions and is expected to close before the end of 2015. For further information,
visit: www.dtz.com or follow us on Twitter @DTZ.

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DTZ Industrial Market Statistical Overview

April 1, 2015 - June 30, 2015
Submarket

Cassidy Turley Classification

BALTIMORE I-95 NORTH INDUSTRIAL SECOND QUARTER 2015

Number of Buildings

Total Size (SF)

Total Available (SF)

Vacancy Rate

Qtr Absorption (SF)

Baltimore City East

City East

127

6,314,357

421,835

6.68%

89,000

Highland

1,044,499

0.00%

Holabird-Point Breeze

47

6,444,089

693,725

10.77%

-500,000

Midtown

34

1,530,523

93,710

6.12%

Moravia-Shannon Industrial
Total

33
250

1,684,855

114,555

6.80%

17,018,323

1,323,825

7.78%

-411,000

Baltimore County East

Baltimore Crossroads

16

4,919,269

1,482,320

30.13%

10,135

Canton-Quad Industrial

49

3,762,172

423,428

11.25%

-107,400

Golden Ring Industrial

11

539,312

94,578

17.54%

-40,300

Marshfields Business Park

1,341,995

144,500

10.77%

20,000

North Point Road Ind Corridor

18

2,889,315

403,142

13.95%

203,524

Rosedale Industrial

20

1,103,632

109,414

9.91%

24,200

Rossville-Pulaski Industrial

58

3,515,318

395,249

11.24%

2,163

White Marsh Industrial

31

3,066,270

607,500

19.81%

122,400

21,137,283

3,660,131

17.32%

234,722

Total

207

Cecil County
Cecil Industrial
Total

42

7,958,613

307,408

3.86%

-38,400

42

7,958,613

307,408

3.86%

-38,400

17

3,545,404

207,297

5.85%

626,000
50,268

Harford County
Aberdeen Industrial
Forest Hill

80

1,425,120

119,597

8.39%

Harford Route 24 Industrial

35

4,538,374

150,350

3.31%

Havre de Grace

1,955,366

22,800

1.17%

Joppa

17

378,856

59,200

15.63%

Perryman Peninsula Industrial

3,968,226

123,144

3.10%

Riverside

29

4,042,162

242,365

6.00%

-80,615

Total

194

19,853,508

924,753

4.66%

595,653

Grand Total

693

65,967,727

6,216,117

9.42%

380,975

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