It’s that time of year again: we’re releasing our Q3 reports for 2023, featuring regional statistics and information regarding the office, industrial, and retail commercial real estate markets. We hope you’re enjoying the cooler weather, as well as some of the positive speculation looking into 2024’s CRE market.
Our regional office market saw an expected increase in vacancy as tenants downsize, a trend that will likely continue into 2024. Pittsburgh’s retail sector faired well in 2023, with vacancy rates remaining steady despite a slight decrease in rental rates. The local industrial market experienced sings of weakening in Q3 amidst an uptick in vacancy rate and decreased absorption, but U.S. manufacturing revival is speculated to provide future tailwinds for the sector. Interested in reading more? 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 Q3 of 2023.
🏢 Click here for the Q3 2023 Office Report.
🏭 Click here for the Q3 2023 Industrial Report.
🏪 Click here for the Q3 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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