| Suburban Maryland Office Report | CMRC Consensus | |
| Total Inventory: | 68,649,536 SF | |
| New Deliveries and Completed Renovations: | 2,171,120 SF | |
| Net Absorption: | 594,445 SF | |
| Vacancy Rate (Excluding Sublet) | 9.7% | |
| Vacancy Rate (With Sublet) | 12.5% | |
| Class "A" Average "Asking Rate" PSF Full Service | $27.25 PSF | |
| Class "B" Average "Asking Rate" PSF Full Service | $21.25 PSF | |
| Total Office Space Available: | 8,581,192 SF |
| Direct (New & Relet): | 6,659,005 SF |
| Sublet: | 1,922,187 SF |
| Total Office Space Under Construction/Renovation: | 1,470,435 SF |
| Total Available Office Space Under Construction/Renovation: | 254,385 SF |
| Percentage Under Construction/Renovation Pre-Leased: | 82.7% |
| Under Construction (u/c) and Under Renovation (u/r) | Square Feet |
| Frederick County/City None |
|
| Montgomery County | |
| I Discovery, Georgia Ave. @ Colesville Rd., Silver Spring | 600,000 SF |
| 1 MedImmune Drive @ Quince Orchard Road, Gaithersburg | 210,000 SF |
| 5635 Fishers Lane, Rockville- Twinbrook Metro Park | 186,130 SF |
| 9747 Washingtonian Blvd., Gaithersburg- Washingtonian Center | 145,805 SF |
| 540 Gaither Road, Rockville- Redland Technology Park | 142,500 SF |
| Rte 118 & Crystal Rock Dr., Germantown- (Adventist Healthcare) | 97,000 SF |
| 4835 Cordell Avenue, Bethesda- Palisades of Bethesda | 33,000 SF |
| 2403 Research Boulevard, Rockville- Research Office Park | 30,000 SF |
| 177 Kentlands Boulevard, Gaithersburg | 26,000 SF |
| Prince George's County None |
|
| Total Square Footage Under Construction & Renovation: | 1,470,435 SF |
| 2002 Buildings Taken Out of Inventory: | |
| None | |
| Total Square Footage Taken Out of Inventory: | 0 SF |
| New Deliveries & Completed Renovations | Square Feet |
| Frederick County/City: | |
| 321 Ballenger Creek Drive | 83,000 SF |
| 97 Thomas Johnson Drive | 24,000 SF |
| Montgomery County: | |
| 111 Rockville Pike, Rockville- Rockville Metro Center | 227,739 SF |
| 800 King Farm Blvd., Rockville- Three Irvington Centre | 217,134 SF |
| Milestone Center Drive, Germantown- Milestone Business Park | 180,000 SF |
| 9737 Washingtonian Blvd., Gaithersburg | 145,805 SF |
| Key West Ave. @ Great Seneca- Stiles Track Phase 1, Bldg. 1 | 133,770 SF |
| 14955 Shady Grove Road, Rockville- Fallsgrove Village Center | 75,000 SF |
| Key West Ave. @ Great Seneca- Stiles Track Phase 1, Bldg. 2 | 74,700 SF |
| 9715 Key West Avenue- Stiles Track Phase 1, Bldg. 3 | 74,000 SF |
| 12215 Plum Orchard Drive, Silver Spring- WesTech Business Pk | 71,500 SF |
| 20500 Goldenrod Lane, Germantown | 63,210 SF |
| 11919 Rockville Pike, Rockville- Montrose Metro II | 59,500 SF |
| 15005 Shady Grove Road, Rockville | 51,277 SF |
| 15000 Johns Hopkins Drive, Rockville | 45,000 SF |
| 22512 Gateway Center Drive, Clarksburg | 33,000 SF |
| 3919 National Drive, Burtonsville | 32,000 SF |
| 2701 Tower Oaks Boulevard, Rockville- Oak Grove Plaza | 30,000 SF |
| 20300 Goldenrod Lane, Germantown- Seneca Meadows | 30,000 SF |
| Prince George's County: | |
| 7900 Harkins Road, Lanham (CSC Corporation) | 325,000 SF |
| 3311 Toledo Drive, Hyattsville- University Town Center | 178,450 SF |
| 9701 Apollo Drive, Landover- Largo Park | 93,585 SF |
| 17001 Science Drive, Bowie | 30,450 SF |
| Total Square Footage New Deliveries & Completed Renovations: | 2,171,120 SF |
| Top Ten Largest Non-Renewal Lease Transactions: | ||
| Tenant | Address | Square Feet |
| GSA- National Institutes of Health (NIH) | 6610 Rockledge Dr., Bethesda | 130,299 SF |
| GSA-Dept. of Health and Human Services (HHS) | 1101 Wootton Pky., Rockville | 83,613 SF |
| Dental Benefit Providers Insurance Corp. | 800 King Farm Blvd., Rockville | 74,828 SF |
| Hewlett-Packard Company | 9737 Washingtonian Blvd., Gaithersburg | 74,317 SF |
| GSA- National Institutes of Health (NIH) | 5635 Fishers Lane, Rockville | 74,000 SF |
| Host Marriott | 6903 Rockledge Drive, Bethesda | 67,746 SF |
| Advancis Pharmaceutical Corp. | 20417 Goldenrod Lane, Germantown | 66,875 SF |
| GSA- Food & Drug Administration (FDA) | River Road, College Park | 65,760 SF |
| APS Healthcare | 8403 Colesville Road, Silver Spring | 59,775 SF |
| GSA- Food & Drug Administration (FDA) | 11919 Rockville Pike, Rockville | 59,500 SF |
| Largest Office Sales Transactions: | ||
| Address | Purchaser | Price |
| Air Rights Towers, Bethesda | Teachers Insurance & Annuity Association | $144,270,000 |
| 2 Bethesda Metro Center, Bethesda (*50% Equity Interest) |
UVAG (German Fund) | $89,000,000 |
| Executive Plaza, North Bethesda | Rockwood Capital Corporation | $85,000,000 |
| 10401 Fernwood Road, North Bethesda | AEW Capital Management | $43,900,000 |
| 15425 Shady Grove Road, Rockville | TA Associates | $32,950,000 |
| Metro-Plex I & II, Landover | MGP Real Estate | $32,050,000 |
| Campus @ Metro Park North, North Rockville | Butera Properties | $30,694,320 |
| 1, 2, & 6 Taft Court, Rockville | MAMSI | $22,000,000 |
| 4733 Bethesda Avenue, Bethesda | Wes Foster | $19,800,000 |
| 910 Clopper Road, Gaithersburg | Aetna Life Insurance Co. | $19,525,000 |
| North Bethesda Office Park 3, Rockville | The JBG Companies | $17,625,000 |