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BALTMORE, MD-The Baltimore-area industrial sector continues to boom and new figures for its Q3 performance shows little sign of a serious slowdown. Jones Lang LaSalle is releasing a report on Friday to show that industrial net absorption has topped 1.5 million square feet for the year after falling short of one million square feet for the entire year last year. In addition, new construction has broken ground with several build-to-suit projects totaling nearly 2.2 million square feet under construction in Baltimore in the third quarter. There are other projects in the pipeline.

“We expect the economy will continue to improve, driving positive rental growth that will make this even more of a landlord-friendly market,” said Mark Levy, Mid-Atlantic Industrial and Baltimore Market Leader for JLL. “Asking rental rates are expected to continue to grow as a flight to quality takes hold and tenants continue consolidating operations.”

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