Q3 2013 Pittsburgh Office Market Highlights
The market for office space in downtown Pittsburgh and its surrounding suburbs remains as vibrant and tight as ever. At 91.9%, the overall occupancy rate certainly surpasses the national average of just over 88%, and rental rates have climbed to $18.84 per square foot. Development continues to surge as well, with 132,136 square feet being delivered in the quarter and 1,617,255 square feet still under construction. Net absorption is at a positive 221,444 square feet in the third quarter.
Posted on November 11, 2013, in Economy, Office and tagged Colliers International | Pittsburgh, Commercial Real Estate, Pittsburgh. Bookmark the permalink. Comments Off on Q3 2013 Pittsburgh Office Market Highlights.