BALTIMORE, MD—Baltimore’s industrial leases may have dropped 38% in the first quarter, according to JLL, but leasing in its supply pipeline is unusually robust. JLL also estimates that the market’s industrial pipeline is 92% leased, another reason to support JLL’s belief that the second quarter will be a strong one for this asset class.

There is more than 3.5 million square feet of industrial product currently under construction, the most since 1999. “There are a lot of deals also at the letter of intent phase, Mark Levy, Baltimore Market Leader for JLL, tells “That too will lead to additional leases being signed.”

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