BALTIMORE, MD—Colliers International Baltimore reports that approximately one-third of the more than 3 million square feet of industrial warehouse space currently under construction is being built on spec.

While the large amount of space coming on line in 2015 is daunting, Colliers is confident the industrial market is strong enough to fill the new properties. "Even with an influx of speculative development planned, demand will remain strong and much of that space will likely be pre-leased," Colliers states in the report. "Spec development is back in a big way with the 'If we build it, they will come' mentality."

Cassidy Turley in its third quarter industrial report states that "the greater Baltimore Metropolitan area has emerged as one of the strongest second-tier markets in the United States." The brokerage added that the industrial market north of Baltimore "is becoming a veritable 'who's who' of national retail distributors.”