The vacancy rate for industrial and flexible space in Howard County has dropped steadily since 1998, when it was 11.47 percent. As of Friday, the vacancy rate for industrial and flexible space in Howard was 5.43 percent, CoStar reported. Including sublet space, an important barometer for measuring when companies return unneeded space to the market, the office vacancy in Howard goes up to 9.63 percent. There are some dynamics working that could create some issues. But the market is still pretty tight.
Vacancies are still very low.
Howard has 995,211 square feet of office space under construction that is scheduled for delivery in the next two years. The county also has 1.1 million square feet of industrial and flexible space under construction. I've always been saying that people shouldn't be worried about the buildings underway. It's the next round of buildings. Monument Realty is paying into a housing fund controlled by the District government under a plan approved by the D.C. Zoning Commission that will allow the construction of a new office building at 901 New York Ave.