A Guide to Office Space in Baltimore
Baltimore has become a global city with plenty to offer growing businesses. Once a city of maritime commerce, Baltimore’s economy has since expanded. The city’s diverse economy offers ample opportunity for business growth at affordable costs.
Continued investment in the city is making it a promising place to set up office space for both small and big businesses.
Below, we explore everything your business needs to know when considering establishing your business in this city. From the key financial incentives to the best office space for rent in Baltimore, this article will show you why this city is so enticing.
Geography of Baltimore
Baltimore has the highest population of any city in Maryland, with over 500,000 people calling the city home.
Situated along the Patapsco River and Chesapeake Bay, the city has a strong maritime history. Today, though, its business ecosystem is more diverse. It has well-established industries across shipping, manufacturing, technology, and healthcare.
The city has become a hub for business growth and entrepreneurship. In particular, the growing tech sector brings more and more businesses to the city each year.
Baltimore’s geographical location between Washington and Philadelphia gives it a strategic advantage. At the same time, Baltimore office space gives businesses the advantages of an East Coast location without the price tag of its more expensive neighbors.
Key business areas in Baltimore
Being a waterfront city, much of Baltimore’s economic activity is situated alongside the river. The city also has a prosperous downtown area and creative district.
When searching for office space in Baltimore city, these are some of the key business areas to consider.
- Downtown Baltimore: This area is the central business district of Baltimore. It’s known for its theaters and the Royal Farms Arena, which hosts regular sporting events and concerts.
- Inner Harbour: This area is a historic seaport that has become a popular entertainment district. It is home to many science and culture museums, as well as a collection of historic ships.
- Harbour Point: This waterfront location is an area that has been going through redevelopment. The area hosts many high-end restaurants, shops, and apartments.
- Bromo Arts District: The city’s art district attracts many creatives and vibrant businesses. It’s well-connected to the rest of the city via foot, bus, or train.
5 businesses based in Baltimore
Any company looking for office space in Baltimore City will be in good company. The city is home to many leading companies across the medical, financial, and media fields.
Here are five of Baltimore's key businesses.
- Under Armour: This global athletic apparel company was founded in Baltimore in 1996 by University of Maryland graduate Kevin Plank. It now employs approximately 15,000 people worldwide.
- T. Rowe Price: This leading investment firm was founded in Baltimore in 1937. Its headquarters are located in the Inner Harbor area of the city.
- Constellation Energy: This electricity and gas provider has around two million customers across the United States. It has its headquarters in Harbor Point.
- Johns Hopkins Medicine: John Hopkins is a leading hospital and biomedical research center in Baltimore. It has research partnerships with many other research centers across the globe.
- Sinclair Broadcast Group: This is one of the largest television broadcast groups in the United States. It was founded in Baltimore in 1972 and is headquartered on the city’s outskirts.
Why you should rent office space in Baltimore, MD
There are many reasons to consider an office space for rent in Baltimore.
From its position as an economic center on the East Coast to its supportive business environment, here are reasons Baltimore is a leading business city.
1. Economic center
As Maryland’s largest city, Baltimore is a crucial economic center. Its strategic location near Washington D.C., Philadelphia, and New York City makes it vital for facilitating trade and commerce.
An office space in Baltimore benefits from not only the city’s diverse economy, but the economic success of the surrounding areas.
2. Tech hub
In 2023, the greater Baltimore region was named a federal tech hub.
This allows access to a share of billions of dollars in funding in areas such as artificial intelligence and biotechnology. The funding will no doubt enhance Baltimore’s innovation in the tech sector and attract many tech businesses to the area.
Unlike traditional East Coast tech hubs, Baltimore is a much more affordable option. This means the area offers a lot to offer startups looking to save on business space for rent in the Baltimore area.
3. Supportive business environment
According to the SBA Office of Advocacy, Maryland state has more than 618,000 small businesses. Altogether, these businesses employ almost half of the state’s workforce.
The city has a network of support programs to benefit businesses, including grants, loans, and advice.
Organizations such as The Small Business Resource Center (SBRC) offer dedicated business support for businesses based in Baltimore.
4. Strategic location
Baltimore’s proximity to Washington D.C. offers access to a diverse workforce and a large market.
This positioning could work well for a business looking to benefit from the strengths of both cities while taking advantage of Baltimore's lower costs.
The cost of living in Baltimore is estimated to be around 30% lower than in Washington D.C..
Office space in Baltimore can allow you and your employees to take advantage of cheaper day-to-day expenses while being well-connected to the region.
5. Regulatory environment and tax incentives
Baltimore City has no corporate income tax. However, businesses must pay Maryland's state corporate income tax.
Maryland’s business climate benefits from various tax incentives. These include tax credits, grants, and loans for qualified businesses.
There are dedicated programs for small, minority, and women-owned businesses. The state also has programs that offer tax credits to tech and manufacturing businesses, among others.
6. Business travel and transport in Baltimore
Baltimore has a well-developed transportation system, with both public bus and train systems. The city is also highly accessible by car, and out-of-state visitors can travel by air.
I-95, I-695, and I-83 connect Baltimore to the nearby Maryland cities of Columbia, Frederick, and Annapolis. Baltimore Penn Station offers Amtrak services to Washington D.C., New York, Philadelphia, and Boston.
For travelers from further afield, the Baltimore/Washington International Thurgood Marshall Airport is about nine miles south of Downtown Baltimore.
For travel across Baltimore, the Charm City Circulator offers free travel across downtown. The city also offers affordable travel via the Metro SubwayLink, LightRail, and MTA Bus Service.
7. Baltimore culture
Baltimore has a rich culture and is famous for its food and entertainment scene.
The city’s seafront location has led to a seafood-inspired cuisine. Dishes such as steamed crab and crab cakes are popular items on the menus here.
For art lovers, the Baltimore Museum of Art (BMA) and the Walters Art Museum are two renowned art galleries.
The city also hosts a variety of live music, festivals, and cultural events throughout the year, so there’s always something to do away from the workplace.
How much are Baltimore office space rentals?
Baltimore can offer a much more cost-effective option than other major cities such as New York or Los Angeles.
With Regus, a private office in Baltimore starts from just $185 per person per month.
In contrast, office space in New York starts from $279 per person per month, while Los Angeles starts from $239 per person per month.
Choosing an office space for rent in Baltimore can save your business thousands of dollars per year in office space costs alone.
Office space for rent in Baltimore, MD
Regus offers private office space for rent in Baltimore, as well as flexible, coworking options. You can choose a permanent, long-term space or a temporary office space in one of Baltimore’s thriving business districts.
Choosing the ideal office space for your business will depend on your industry, budget, and need for international travel.
Here are some of the leading office rental options throughout Baltimore.
Legg Mason Tower
Legg Mason Tower is a stunning glass high-rise building that makes a bold impression on Baltimore’s waterfront.
The ultra-modern office space has floor-to-ceiling windows as well as cool break-out areas and an on-site restaurant. Its prime location is just a short walk from some of Baltimore's best restaurants and waterside bars.
Popular nearby restaurants include the Oceanaire Seafood Room and the Loch Bar, which serve fresh seafood by the water.
Highlights include
- Secure underground parking
- Business lounge
- On-site lunch restaurant
Information about Legg Mason Tower
- Location: Legg Mason Tower, 23rd Floor, Baltimore, MD, 21202
- Starting cost: From $305 per month
- Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
- Nearby transport links: Fleet St. & Exeter St. Bus Stop (a five-minute walk away) and Fleet St & Albemarle St Bus Stop (a five-minute walk away)
Harborplace
Harborplace is a waterfront office space with easy access to Downtown Baltimore. The office features multiple break-out areas to inspire your best ideas and an on-site cafe to get a coffee and a bite to eat.
The office’s location makes it easy to enjoy Baltimore’s restaurants and entertainment venues. The National Aquarium and Baltimore’s historic ships are just across the road from the office’s front door.
Highlights include
- Break-out areas
- Outside seating area/terrace
- Secure underground parking
Information about Harborplace
- Location: 200 E. Pratt Street, Baltimore, MD, 21202
- Starting cost: From $185 per month
- Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
- Nearby transport links: Lombard St & Commerce St Bus Stop (a two-minute walk away), Harborplace Ferry Service (a four-minute walk away), and Charles Center Metro Station (a 12-minute walk away)
1820 Lancaster Street
1820 Lancaster Street is located just a 10-minute drive from Downtown Baltimore. This newly refurbished office features industrial design and inspiring views across the city.
At just half a mile from the Maritime Park ferry terminal, a short water taxi ride will take you to Baltimore’s downtown attractions.
Highlights include
- Meeting rooms
- Break-out areas
- City center location
Information about 1820 Lancaster Street
- Location: 1820 Lancaster Street, Baltimore, MD, 21231
- Starting cost: Please call for more information
- Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
- Nearby transport links: Fleet St & Wolfe St Bus Stop (a seven-minute walk away) and Maritime Park Ferry Terminal (a six-minute walk away)
Stadium Square
Stadium Square is a creative and energetic office space minutes from Cross Street Market and M&T Bank Stadium.
The office offers multiple well-designed break-out spaces for quiet work or collaboration. Nearby rail and bus links connect the office to the rest of what Baltimore has to offer.
Highlights include
- Parking
- Elevators
- Break-out areas
Information about Stadium Square
- Location: 145 West Ostend Street, Baltimore, MD, 21230
- Starting cost: From $345 per month
- Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
- Nearby transport links: Hanover St & Ostend St Bus Stop (a three-minute walk away) and Hamburg Street Train Station (a 10-minute walk away)
Inner Harbor Center
Inner Harbor Center is a well-connected office space in South Baltimore. The sleek office has plenty of comfortable booths for break-out sessions and casual meetings.
This site is just a few minutes walk from a variety of cultural attractions, including the Top of the World Observation Level and the Pier Six Pavilion music venue.
This office is conveniently located for travel to the Baltimore/Washington International Thurgood Marshall Airport. The airport is around a 10-minute drive away or 40 minutes on public transport.
Highlights include
- Vending machines
- Business lounge
- On-site sandwich/coffee bar
Information about Inner Harbor Center
- Location: 145 West Ostend Street, Baltimore, MD, 21230
- Starting cost: From $255 per month
- Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
- Nearby transport links: Pratt St & Gay St Bus Stop (a two-minute walk away), Harborplace Ferry Terminal (a five-minute walk away), and Shot Tower Metro Station (a seven-minute walk away)
Explore Baltimore office spaces with Regus
Our office spaces are well-connected and close to many of the city’s leading attractions. Whether you need a small office space in Baltimore or something to suit a large team, Regus can help.
We can help you find the ideal office for your business, whether you need long-term, private office space or flexible, co-working options. All our offices come equipped with high-speed internet and a helpful team to support you in every step of your business journey.
Contact our specialists today to explore your options in this dynamic and growing city.