Q1 2014 Off to a Good Start

The first quarter of 2014 bodes well for the remainder of the year. The market is not only active, but deals are closing. This is welcome news given the fact that while the market has seen activity over the last four quarters, the actual transactions were often slow to materialize. The deal volume continues to put a strain on inventory with class A vacancy further shrinking to historic low levels. Users of significance will soon have no option but to resort to build to suit developments or settle for less than ideal existing options.

The Pittsburgh market witnessed both major newspapers taking additional space. The Post Gazette with a major repositioning of their operations, leased the former Flabeg building in Clinton Commerce Park with plans to move 227,000 SF of their printing operation from downtown into the Parkway West Corridor. The Tribune Review continues to streamline operations and expanded an existing facility in Youngwood to a 50,000 SF footprint.

Click here to see the full Q1 2014 Industrial Market Report.