•The  largest transactions of the quarter were: Fila USA’s 731,862 sq. ft. renewal/expansion at 7629 and 7630 Gambrills Cove Road (Baltimore/Washington Corridor); Kuehne + Nagel’s 656,880 sq. ft. lease at 1100 Woodley Road (Harford Cecil); and a confidential automotive company’s 176,651 sq. ft. lease at 7101 Troy Hill Drive (Baltimore/Washington Corridor).

•Baltimore market fundamentals remain strong and continue to tighten, mirroring national trends. Warehouse vacancy climbed 50 basis points to 7.2%, due to 1.2 million sq. ft. of new product delivered this quarter.

•Much of the quarter’s leasing activity was driven by organic growth, with new leases and expansions accounting for 71% of the 3.3 million sq. ft. in total leasing activity during Q2.

•Baltimore registered a surge in industrial sales volume during Q2 with approximately $450 million of assets transacted. Blackstone REIT’s $251.1 million purchase of FRP Development’s 2.9 million sq. ft. portfolio of industrial assets within the Baltimore market represents the largest industrial sale in the market since the Great Recession.