Pittsburgh Industrial Market Snapshot

John Bilyak, Principal & Director of Industrial Brokerage at Colliers International | Pittsburgh, recently contributed to the Northeast Real Estate Business publication, with a feature article that focuses on a snapshot of the Pittsburgh Industrial Market.

“While Pittsburgh has weathered the storm and our vacancy rate is healthy, the real story is that there is a need for additional well-located Class A inventory,” said Bilyak, who is responsible for industrial tenant and owner representation at Colliers International | Pittsburgh.

The Pittsburgh industrial market has remained relatively stable over the last several years, and 2010 along with the first quarter of 2011 stayed true to the trend. The market encompasses a five-county region in southwestern Pennsylvania, centered around Allegheny County and including Butler, Beaver, Washington and Westmoreland counties. The total market is roughly 120 million square feet and has a current vacancy rate across all industrial product types of approximately 9 percent. This vacancy rate is somewhat deceiving due to the availability of several significant spaces, which skew the rate upward. Additionally the lion’s share of the vacancy lies in the Class B and C product types. The vacancy rate for Class A product is closer to 5.5 percent.

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