nkf q4 2010 baltimore office market report

8/7/2019 NKF Q4 2010 Baltimore Office Market Report

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Nov-06 Nov-07 Nov-08 Nov-09 Nov-10

United States Baltimore

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Nov-06 Nov-07 Nov-08 Nov-09 Nov-10United States Baltimore

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Nov-06 Nov-07 Nov-08 Nov-09 Nov-10United States Baltimore

4Q10

baltimoreOffice market

The U.S. Bureau of Labor Statistics reported that the unemployment rate

for the Baltimore area was 7.8% in November 2010, compared to 7.5% in

November 2009. The Bureau of Labor Statistics reported that total

nonfarm employment in the Baltimore area increased by 1.4% in the 12

months ending in November 2010, indicating a gain of 17,700 jobs. The

BLS also reported that the Consumer Price Index for the area had grown

1.6% for the 12 months ending in November.

For the U.S. overall, the BLS reported that 842,000 jobs were gained in

the 12 months ending in November, while 39,000 jobs were gained

during the month. The unemployment rate for the U.S. overall was 9.8%

at the end of November 2010, up from 9.6% in September 2010, and was

down from the 10.0% rate reported in November of 2009. The CPI for the

U.S. overall was up 1.1% over the last 12 months.

Figure 4Total Nonfarm Employment, 12-Month % Change

Figure 5Consumer Price Index, 12-Month % Change

Figure 6Unemployment Rate

2

Social Security Administration 6100 Wabash Ave Baltimore City West 538,000

Northrop Grumman 2691 Technology Dr BWI Area 103,683

CMS 7205 Windsor Blvd Baltimore County Southwest 74,216

General Services Administration 7210 Ambassador Rd Baltimore County Southwest 66,707

Paragon Bioservices 801 W Baltimore St Baltimore City West 42,500

Connections Academy 8621 Robert Fulton Dr Ellicott City/Columbia 41,675

Northrop Grumman 7133 Rutherford Rd Baltimore County Southwest 32,541

Ancile Solutions 6085 Marshalee Dr Ellicott City/Columbia 23,351

Tenant Address Submarket Square Feet

Table 3Select Lease Transactions

Table 4Select Sales Transactions

1122 Kenilworth Dr Central Baltimore 88,257 $16,500,000 $187

1212 York Rd Central Baltimore 28,005 $2,750,000 $98

Address Submarket Square Feet Sale Price Price/SF


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nkf q4 2010 baltimore office market report

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