Local Market Update

Pittsburgh’s retail vacancy rate increased in the third quarter 2013, ending the quarter at 4.3%. Over the past four quarters, the market has seen an overall decrease in the vacancy rate, with the rate going from 4.7% in the fourth quarter 2012 to 4.4% at the end of the first quarter 2013, 4.2% at the end of the second quarter, to 4.3% in the current quarter.

Retail net absorption was slightly negative in Pittsburgh third quarter 2013, with negative 117,216 square feet absorbed in the quarter. In the second quarter 2013, net absorption was positive 250, 799 square feet, while in first quarter 2013, absorption came in at positive 960, 203 square feet were absorbed in the market.

Read the full Q3 2013 Pittsburgh Market Place Report