Summer has officially come to a close, so make sure between Sunday football games and your seasonal Trax Farms visit (or Soergel Orchards, if you’re in the north submarket) you catch up on Q3’s CRE stats in our latest batch of market reports!
The regional office market continues to see signs of recovery amidst continued decreasing vacancy rates and a modest uptick in rental rates. Pittsburgh’s industrial sector witnessed a slight increase in both rental and vacancy rates, painting a bit of a mixed picture; meanwhile, retail enjoyed a robust third quarter, demonstrating significantly increased asking rates, net absorption, and a tiny drop in the current vacancy rate. We’re still waiting on multifamily stats to be published from our data sources, so check back in next week for an update from our capital markets guys.
Interested in reading more? Every quarter our firm assembles market reports on regional developments, notable transactions, market indicators and statistics. Please review our most recent collection of Office, Industrial, Retail, and Multifamily reports for more comprehensive data.
🏢 Click here for the Q3 2024 Office Report.
🏭 Click here for the Q3 2024 Industrial Report.
🏪 Click here for the Q3 2024 Retail Report.
🏠 Check back next week for the Q3 2024 Multifamily 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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