Office space market in Maryland shapes up

Maryland’s office space market may bounce back during 2012 as Montgomery, Prince George’s and Frederick counties ended 2011 with low vacancy rates, The Gazette reports.

Real estate experts said 2012 is shaping up as a chance to rebound due in part to federal budget developments that will allow government military contractors to move into empty buildings that sent vacancy rates soaring in some areas last year. McShea & Co. noted that the outlook for filling new space also turned positive, with almost 2 million square feet of office space under construction at the end of 2011 in the three suburban counties, almost as much as in Washington and more than in Northern Virginia.

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