It’s been a soggy second quarter in the Pittsburgh region, but the weather isn’t the only thing putting a dampener on our regional CRE outlook the past few months: national economic uncertainty’s raining on industrial, retail, and office’s parade a bit lately.
The industrial sector in Pittsburgh curbed some of its prior momentum amidst an uptick in vacancy and a decrease in asking rates as supply chains, logistics, and development face global constraints. Office, in continued post-pandemic fashion, continues to face challenges: as tenants rightsize and relocate, vacancy notches upward and net absorption remains in the negative territory. The local retail market also experienced significant negative net absorption in Q2, thanks mostly to underperforming big-box retailers, such as Rite Aid and Bed Bath & Beyond, shuttering their doors and putting square footage back up for grabs.
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 Q2 2025 Office Report.
🏭 Click here for the Q2 2025 Industrial Report.
🏪 Click here for the Q2 2025 Retail Report.
🏠 Check back soon for the Q2 2025 Multifamily Report.
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