2013 was a year of growth for Frederick’s CRE market, in both year-over-year dollar volume and transaction volume.
Since 2012, MacRo has been tracking all sales of commercial real estate in Frederick County by segment. We were pleased to see Frederick County post $275 million worth of commercial real estate sales, versus about $200 million in 2012. That’s a nearly 40% increase in dollar volume. In addition, the number of CRE sales transactions increased by over 20% from 2012 (149 transactions versus 123). While two years is hardly enough data to begin tracking trends, it is nevertheless encouraging to see sales growth heading in the right direction–up!
Considering our local economy had to dodge sequestration, the fiscal cliff, AND the rollout of Obamacare (not to mention Governor O’Malley) the results aren’t half bad. Frederick’s office segment is still limping, but overall activity in our local commercial real estate market appears to be improving.
Below are a couple of charts highlighting commercial real estate sales in Frederick County for 2013 and those for the 4th quarter of 2013 by market segment, based on both dollar volume and number of transactions. In the coming weeks we’ll share the top commercial real estate deals of the 4th quarter of 2013, as well as those of 2013 overall.