Originally settled in 1772 along the valley created by the Patapsco River, Ellicott City has since grown to a population of over 68,000, making it one of the largest unincorporated towns in Maryland. Following the industrial boom, from the establishment of the flour mills and its position as the western terminus of the new Baltimore and Ohio Railroad, Ellicott City expanded from the river valley north to the Baltimore County line, south to the town of Columbia, and west to West Friendship. Serving as the county seat of Howard County, the town benefits from the area’s well-developed transportation infrastructure, including Interstate 70 connecting to both Baltimore and Frederick on the northern side and U.S. 29 (Columbia Pike) running south towards Columbia, as well as close proximity to the Baltimore-Washington International Airport and the Port of Baltimore.
Ellicott City is a popular destination for many tourists attracted by its historic downtown filled with unique antique stores, gift shops, and a variety of restaurants. In 2016 Ellicott City/Columbia together ranked 4th place in Money Magazines’s annual “Best Places to Live” survey. This distinction reflects the town’s low unemployment rate of 3.4 % and high median household income of $114,694.00, as well as its excellent public schools with a graduation rate of 93%. Nearby colleges and universities include University of Maryland, Howard Community College, Baltimore City Community College, Coppin State University, and University of Baltimore.
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.
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