Located just off the Interstate 95 corridor between Baltimore and Washington, D.C., Ellicott City offers an ideal location from which to take advantage of the area’s highly educated workforce, with more than 60% of residents holding a bachelor’s degree or higher, and burgeoning industries devoted to cyber technology, bioscience, defense contracting, and telecommunications. Ellicott City also offers a robust retail community centered on the highly-traveled Baltimore National Pike (U.S. Route 40) crossing the middle of the town. Surrounding Howard County hosts 9,400 businesses with 143,000 workers, all within 30 minutes of Downtown Baltimore and less than 60 minutes from Washington, D.C. The largest nearby employers include Johns Hopkins University Applied Physics Laboratory, Verizon, Lorien Health Systems, Howard Community College, W.R. Grace, Leidos, Wells Fargo, and Oracle’s
This report features six shopping centers in Ellicott City. During the second quarter of 2016, asking rents in the Howard County/Carroll County submarket rose by 1.6%, the highest seen across the metro’s six submarkets. The submarkets’s six consecutive quarterly gains beginning in Q1 2015, has increased asking rents by a cumulative total of 7.1%. Average allowances offered to new tenants are $13.40 per square foot for improvements and 1.3 months of free rent. Asking rents for anchor tenants range from a low of $9.84 per square foot to a high of $19.75, with an average of $15.07. Inline asking rates per square foot range from a low of $17.97 per square foot to a high of $45.00, with an average of $31.16.