It’s been a long time since the MacRo office saw a spring real estate market as hot as 2013.
Commercial real estate sales throughout Frederick County jumped over $100 million during the second quarter of 2013, from the first quarter. Commercial properties in every segment are moving again.
While sales prices on a per square foot basis are generally trending upwards for Frederick’s commercial properties, lease rates have not quite stabilized across all segments. Vacancy rates for office and warehouse properties are declining but still above normal; as a result, landlords are becoming more aggressive in cutting deals to attract prospective tenants.
While sales prices on a per square foot basis are generally trending upwards for Frederick’s commercial properties, lease rates have not quite stabilized across all segments. Vacancy rates for office and warehouse properties are declining but still above normal; as a result, landlords are becoming more aggressive in cutting deals to attract prospective tenants.
While sales prices on a per square foot basis are generally trending upwards for Frederick’s commercial properties, lease rates have not quite stabilized across all segments. Vacancy rates for office and warehouse properties are declining but still above normal; as a result, landlords are becoming more aggressive in cutting deals to attract prospective tenants.
We expect that if the economy continues to grow at the present rate, lease rates for office and industrial properties in Frederick County should stabilize by the end of 2014.
Lease rates for multifamily, medical, and retail properties are holding steady and/or rising. These segments seem to attract the most inquiries from prospective investors, while office and warehouse properties are the target of buyers who will be owner/users.
We are optimistic that fall will bring another burst of activity in Frederick’s commercial market, and in anticipation we’ve nearly doubled our sales and marketing team to ensure MacRo continues to meet the needs of our clients.
Download the Entire Fall/Winter 2013 MacRo Report!
Please connect with us at MacRo, and let us add value to your real estate transactions.
Contact Rocky at
301-698-9696 ext. 202 or
rocky@macroltd.com