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Gaithersburg Q1 economic update: office vacancy improves, retail softens; federal downsizing watched
Summary
City economic development staff reported first-quarter 2025 commercial real estate trends: office vacancy in Gaithersburg fell to 11.4% from 13.1% year-over-year, flex vacancy dropped substantially, retail vacancy ticked up to 3%; staff cautioned that federal government downsizing could affect future demand.
Economic development staff presented a first-quarter 2025 snapshot on May 5 showing mixed trends across Gaithersburg's commercial real estate markets and a continued need to monitor federal workforce changes.
Tom Lonerganseager said the city tracks roughly 9.5 million square feet of office and flex inventory and about 5 million square feet of retail via a CoStar subscription. He reported…
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