Market Report
Baltimore Retail Market Report
3Q 2026
Uneven Performance Across the Metro
Continues to Influence Strategy
Limited pipeline helps contain vacancy pressure. Baltimore’s retail space demand has softened since the end of 2024, driven in part by big-box move-outs such as Macy’s and Saks OFF 5TH. Backfilling these large single-tenant spaces has been slow, while quarterly demand for multi-tenant space has remained subdued. As a result, vacancy rates this year for both single-tenant and multi-tenant properties reached their highest June levels since at least 2007. Still, with less than 200,000 square feet under construction, limited new supply should help prevent a meaningful further rise in vacancy over the near term.
TO READ THE FULL ARTICLE
