BALTIMORE, MD—Colliers International Baltimorereports that approximately one-third of the more than 3 millionsquare feet of industrial warehouse space currently underconstruction is being built on spec.

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While the large amount of space coming on line in 2015 isdaunting, Colliers is confident the industrial market is strongenough to fill the new properties. "Even with an influx ofspeculative development planned, demand will remain strong and muchof that space will likely be pre-leased," Colliers states in thereport. "Spec development is back in a big way with the 'If webuild it, they will come' mentality."

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Cassidy Turley in its third quarter industrialreport states that "the greater Baltimore Metropolitan area hasemerged as one of the strongest second-tier markets in the UnitedStates." The brokerage added that the industrial market north ofBaltimore "is becoming a veritable 'who's who' of national retaildistributors.”

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The vacancy rate for the South of Baltimore industrial marketstood at 12.2% at the end of the third quarter. The market north ofBaltimore was at 7.7% vacancy at the end of the third quarter,according to Cassidy Turley. See story in the Baltimore Business Journal.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.