Category: Economy
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Q3 2014 Office Market Report
The Pittsburgh office market continued its steady growth during the third quarter with increased absorption and an unchanged vacancy rate of 8.4%. The average asking lease rate was up over last quarter to $19.97 per square foot, an increase of 0.7%. Class “A” space continues to be in strong demand, especially in the CBD where the vacancy rate…
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Q2 2014 Pittsburgh Industrial Market Report
Q2 2014 Pittsburgh Still Positive Although deal volume in the second quarter was not as robust as the first, activity remained brisk. The expectation is that the third quarter will bring more transactions from the tenants and buyers currently scouring the market. Scouring is the appropriate term given the only potential impediment to increased activity…
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Q1 2014 Office Market Report
Activity in the office leasing market in Pittsburgh leveled off in the first quarter of 2014, but overall the market performance continues to exceed typical expectations for the region. The overall office vacancy rate in the region is up slightly to 8.3 percent from 8.1 percent at the end of 2013, while Class A office space in the CBD…
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Q1 2014 Pittsburgh Retail Market Place Highlights
Local Market Update Pittsburgh’s retail market experienced minimal impact the first quarter of 2014. The vacancy rate remained the same at 4% from the previous quarter in 2013, ranking Pittsburgh 12th out of 63 markets nationally, the lowest being San Francisco at 3.4% and the highest is Cleveland at 15.2%. Researchers are forecasting the national…
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Q4 2013 Pittsburgh Industrial Market Report
Q4 Consistency Continues The fourth quarter of 2013 finished in much the same way it began and maintained throughout the year; solid if unspectacular growth. The vacancy rate fell from 7.9 percent in the third quarter to 7.7 percent in the fourth quarter and dropped three basis points in total over the course of the…
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Q4 2013 Pittsburgh Office Market Report
Pittsburgh’s Office Market Continues to Tighten With the rest of the country’s real estate portfolio just beginning to recover, the Pittsburgh office market has seen unprecedented success in terms of its vacancy rate. The overall vacancy rate for the market, at 8.1 percent, is one of the lowest in the country, but only begins to…
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Q4 2013 Pittsburgh Investment Newsletter
Family Office (FO) Commercial Real Estate Services This article is the first of a series that presents various aspects of real estate investment from a comprehensive wealth management perspective. Various relevant topics will include basic real estate asset-class investment characteristics, varying inflation hedging capabilities of public vs. private real estate investments, the market composition of…
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Pittsburgh possesses beauty, brains and a new economy
Sources: Pittsburgh Business Times, Chicago Tribune, Huffington Post, Pittsburgh Post Gazette Chicago Tribune travel writer Josh Noel described Pittsburgh as “one of our nation’s most underrated cities, with a beauty as breathtaking as it is obvious” in his January 4th article titled “New meets old in Pittsburgh.” While this is true to anyone who has…
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Q3 2013 Pittsburgh Investment Newsletter
Third Quarter Leasing and Sales Activity Remains Strong The Pittsburgh market continues to live up to the national hype, posting strong gains in all product types while sales continue to remain solid. The OFFICE MARKET for the Third Quarter of 2013 saw an overall vacancy rate of 8.1% with a quoted rental rate at $18.84.…
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Q3 2013 Pittsburgh Industrial Market Highlights
Pittsburgh Earns Reputation of Conservative Market The third quarter continued the trend established in the last several quarters. Slow and steady growth with a continuing decline in the vacancy rate – particularly among class A and B inventory. Deal activity witnessed a marginal increase resulting in a drop in overall vacancy from 8% to 7.9%.…
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