Baltimore is holding its own when it comes to adding high-tech jobs, a new report finds.
The CBRE report, released last week, ranked Charm City 15th out of 20 tech-oriented office markets across the U.S.
The report slots Baltimore behind Boston, Seattle and Austin (with San Francisco ranked No. 1), but ahead of Philadelphia, Pittsburgh and Washington, D.C.
Baltimore saw 10 percent growth in high-tech jobs between 2011 and 2013, and a 3.7 percent growth in office rents from the second quarter of 2012 to the second quarter of 2014.
“Within preferred submarkets, which, in many cases, are the neighborhoods of choice for millennials and high-tech companies, vacant space has become increasingly scarce,” Colin Yasukochi, director of research and analysis for CBRE Global Research and Consulting, said in a release. “As a result, nearby submarkets may see increased leasing activity by tech companies.”
The CBRE report found that Baltimore has more than 30,000 high-tech jobs with area rents averaging $25 per square foot, according to the Baltimore Business Journal.
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