Q3 2013 Pittsburgh Office Market Highlights
Pittsburgh’s Office Market Strength Continues
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.
Read the full Q3 2013 Pittsburgh Office Market Report
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.