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Availability remains elevated as construction booms in Montgomery County
Overall availability in Suburban Maryland inched up another 20 basis points over the year, ending the second quarter at 20.3%. Class A availability saw a higher jump over the year, increasing 220 basis points to 22.9% - its highest since 2013. There are currently 2.8 million square feet (msf) under construction in the market, with the majority located in the Bethesda/Chevy Chase submarket. As a result, overall availability in Montgomery County increased 100 basis points over the year to 19.8%, with Class A availability increasing by 280 basis points to 21.7%.