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Pittsburgh Market Reports

Pittsburgh Office Market

Average Asking Rent (Price/SF) $23.79
Vacancy Rate (%) 16.5%
Net Absorption (SF) 353,162

Keeping pace with demand in the spring, the Pittsburgh office market experienced another period of positive net absorption in the third quarter of 2018, posting 353,162 square feet of absorption, predominately in Class A properties. Overall market vacancy decreased slightly resting at 16.5%, and weighted average asking rents bumped up by $0.36/SF to $23.79/SF.

Pittsburgh Industrial Market

Availability Rate (%)                        
7.2%
Net Absorption (SF) 463,608

The third quarter of 2018 was very similar to second quarter as the region experienced one of the rainiest summers in Western Pennsylvania history. While this continued to delay numerous construction projects throughout the region, including the ongoing construction of the Southern Beltway from route 22 to I-79 scheduled for completion in 2022, the industrial market performed very well over the normally slower summer months.



Pittsburgh Office Market Report
3Q18
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Pittsburgh Industrial Market Report
3Q18
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