It’s officially summer in Pittsburgh, although the weather lately has been about as mixed as the market conditions throughout Q2. Our regional office sector saw a decrease in vacancy rate, but also increased negative absorption over the past several months. The local retail market enjoyed relatively stable rental rates, although limited new construction has created competitive demand for space, particularly Class A availabilities. Pittsburgh’s industrial sector witnessed a growth in overall average lease rate, despite rising vacancy due to inflation and interest hikes.
Every quarter our firm assembles market reports on regional developments, notable transactions, market indicators and statistics.
Please review Colliers | Pittsburgh‘s most recent collection of Office, Industrial, and Retail reports from Q2 of 2023.
Click here for the Q2 2023 Office Report.
Click here for the Q2 2023 Industrial Report.
Click here for the Q2 2023 Retail Report.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 17,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $4.1 billion and $45 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
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