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The Baltimore Metropolitan Area
Class B Office, Light Industrial & Retail Markets:
 A Perspective 
 
by Jessie Newburnwww.jessienewburn.com May 2006 
 
Introduction
The following document provides interested parties with an overview perspective of theBaltimore Metropolitan Area real estate market and several demographic and economictrends that appear to be influencing it. The document is provided as a “white paper” and“thought piece,” and readers are encouraged to seek other sources of data and information inorder to draw their own conclusions.
Forward-looking Statements
This document includes “forward-looking statements” that are the sole opinion of the writer and not that of MCB or any of its employees, directors, officers, agents oraffiliates. All statements other than statements of historical fact included orincorporated by reference herein, for example, regarding the prospects for the realestate industry and market may constitute forward-looking statements.Forward-looking statements may include words such as “believe,” “anticipate,”“expect,” “plan,” “will,” “may,” “could,” “estimate,” “intend” or words of similarmeaning, and may address future events and conditions concerning the real estateindustry and markets. Readers are encouraged not to rely solely on this data and toseek additional information if they so choose.
 
Why the Baltimore Metropolitan Market… and Why Now
 In the Baltimore Metropolitan market, there are a number of factors that may have a positive impacton the Class B office, retail and light industrial markets. They are –1. The intentional and dynamic strategic planning and investment by local business,government and nonprofit organizations in developing downtown Baltimore as a  vibrant, desirable place to work and live; and the possible transformation of Baltimore into a 24-hour city.2. The shift in demographics with more Thirteeners (often called Gen Xers) and“empty nest” Baby Boomers moving into the city, creating greater demand for retail,services and office space and an influx of potential entrepreneurs and new businessgrowth.3. The conversion of “once
un
desirable” Class B and Class C buildings into high-end,amenity-rich residential apartments and condominiums, creating a new, lucrativeopportunity for Class B properties while concurrently shrinking inventory of suchproperties.4. The existence of a thriving “aeropolitan” economy surrounding the Baltimore- Washington International Airport, Baltimore’s status as a port city, and a robustregional infrastructure of interstate highways and major roads, rail and othertransportation services, providing yet another reason why local, national andinternational corporations benefit from moving their business interests here.5.
 
The high-population growth of the region, including Baltimore, Washington, D.C.,Suburban Maryland, and Northern Virginia, and the specific and combinedstrengths of the office markets in each region.6.
 
The remarkably high ranking in terms of demographic concentrations, householdincome and other positive economic indicators that Baltimore displays when viewedas a “Major Metropolitan Market,” rather than just as a “city.”
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