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Pittsburgh Market Reports

Pittsburgh Office Market

Average Asking Rent (Price/SF) $23.96
Vacancy Rate (%) 16.9%
Net Absorption (SF)  56,557

The Pittsburgh office market closed out 2019 with 472,306 square feet of positive net absorption. Compared to year-end 2018, vacancy increased 50 basis points, while asking rents increased $0.17/SF. The marketplace has experienced a shift to urban markets outside of the Central Business District over the past several years, mostly because the technology sector continues to resonate.

Pittsburgh Industrial Market

Availability Rate (%)                        
6.3%
Net Absorption (SF)  257,390

According to the Wall Street Journal, the 10-year period from 2010 to 2019 is the first decade in which an economic recession did not impact the U.S. economy. The U.S. stock market indices hit all-time highs and unemployment remained at historically low levels, with inflation seemingly held in check. All of these factors contributed to a strong year for the Pittsburgh region and the Pittsburgh industrial market.



Pittsburgh Office Market Report
4Q19
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Pittsburgh Industrial Market Report
4Q19
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