Market Highlights
- Overall vacancy stands at 27.1%, down 40 basis points (bps) from 27.5% year over year, while available space also declined slightly from 1.5 million square feet (msf) to 1.4 msf over the same period.
- Venture capital funding more than doubled year over year, surging to a record $1.7 billion across 69 deals, up 115.6% from $766.2 million in 2024 despite fewer transactions.
- Agilent Technologies’ 198,000-square-foot (sf) manufacturing facility in Frederick, which will produce nucleic acid therapeutics, is expected to deliver in 2026 and expand the company’s manufacturing capabilities.