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Suburban Maryland Q1 2025 Office Market Report

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MARKET TRENDS

  • At 566,000 square feet (sf) leased in the first quarter, deal volume was down slightly from year-end 2024 but rose sharply compared to Q1 2024
  • Occupier flight to quality helped the Class A average availability rate decrease 70 basis points (bps) year over year to 26.8%
  • Sublease supply decreased 18.5% from Q1 2024, with much of the decline due to term expirations and spaces becoming available on a direct basis

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