Baltimore Industrial Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, CBRE, JLL, Colliers
Quarterly industrial market indicators for Baltimore, aggregated by CREhunt from Cushman & Wakefield, CBRE, JLL, Colliers. As of Q2 2026, average asking rent was $10.97/SF/yr and vacancy was 9.3%, per Cushman & Wakefield.
Projected current industrial pricing — Baltimore
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Baltimore industrial yet, so this applies the typical cap rate across comparable industrial markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 multiple brokerages asking-rent data (benchmark cap rate 5.5%–7.5%, asking rent trend-adjusted to today). Assumes ~91% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $10.97/SF/yr | 9.3% | 230K SF | — | Cushman & Wakefield |
| Q2 2026 CBRE | $11.17/SF/yr | 8.7% | 288K SF | — | CBRE |
| Q1 2026 Cushman & Wakefield | $11.02/SF/yr | 9.0% | — | — | Cushman & Wakefield |
| Q1 2026 CBRE | — | 8.7% | — | — | CBRE |
| Q1 2026 JLL | $11.11/SF/yr | 10.1% | — | — | JLL |
| Q4 2025 Cushman & Wakefield | $11.04/SF/yr | 8.8% | — | — | Cushman & Wakefield |
| Q1 2023 Colliers | $11.04/SF/yr | 8.6% | -672K SF | — | Colliers |
| Q4 2020 Cushman & Wakefield | $7.17/SF/yr | 6.1% | — | — | Cushman & Wakefield |
| Q3 2020 Cushman & Wakefield | $7.08/SF/yr | 6.6% | 1.4M SF | -95 SF | Cushman & Wakefield |
| Q2 2020 Cushman & Wakefield | $7.04/SF/yr | 7.2% | — | — | Cushman & Wakefield |
| Q1 2020 Cushman & Wakefield | $6.78/SF/yr | 6.3% | 3.2M SF | — | Cushman & Wakefield |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each Baltimore industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Annapolis | $18.36/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| Baltimore City | $9.52/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| Baltimore City East | $8.83/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Baltimore County East | $10.91/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| Baltimore Southeast | $11.66/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Baltimore Southwest | $11.61/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| Baltimore/ Washington Corridor | $13.15/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| Carroll | $10.00/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Harford and Cecil County | $8.50/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Harford/ Cecil County | $8.54/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| Hunt Valley/ Towson | $12.34/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| I-95/Route 1 Corridor | $13.64/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Owings Mills/ Reisterstown Rd | $11.37/SF/yr CBRE · Q2 2026 | CBRE, Q2 2026 |
| Route 83 North | $13.50/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Woodlawn/Catonsville | $6.95/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Baltimore industrial did not fully agree. On vacancy, the sources span 0.6 points — from 8.7% (CBRE) to 9.3% (Cushman & Wakefield). Asking-rent estimates differ by $0.20/SF/yr — from $10.97/SF/yr to $11.17/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Cushman & Wakefield | 9.3% | $10.97/SF/yr | — |
| CBRE | 8.7% | $11.17/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in Baltimore?
- As of Q2 2026, the average asking rent for industrial space in Baltimore was $10.97/SF/yr, per Cushman & Wakefield.
- What is the industrial vacancy rate in Baltimore?
- The industrial vacancy rate in Baltimore was 9.3% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Baltimore market data come from?
- This report aggregates quarterly industrial market data for Baltimore from Cushman & Wakefield, CBRE, JLL, Colliers.
- How much do brokerage estimates differ for industrial space in Baltimore?
- For Q2 2026, the brokerage sources CREhunt aggregates for Baltimore did not fully agree. On vacancy, the sources span 0.6 points — from 8.7% (CBRE) to 9.3% (Cushman & Wakefield). Asking-rent estimates differ by $0.20/SF/yr — from $10.97/SF/yr to $11.17/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.