Category: Economy
-
Q3 2013 Pittsburgh Market Place Highlights
Local Market Update Pittsburgh’s retail vacancy rate increased in the third quarter 2013, ending the quarter at 4.3%. Over the past four quarters, the market has seen an overall decrease in the vacancy rate, with the rate going from 4.7% in the fourth quarter 2012 to 4.4% at the end of the first quarter 2013,…
-
Q3 2013 Pittsburgh Office Market Highlights
Pittsburgh’s Office Market Strength Continues The market for office space in downtown Pittsburgh and its surrounding suburbs remains as vibrant and tight as ever. At 91.9%, the overall occupancy rate certainly surpasses the national average of just over 88%, and rental rates have climbed to $18.84 per square foot. Development continues to surge as well,…
-
Q2 2013 Pittsburgh Office Market Report
The Pittsburgh market continued to outpace the national average in the second quarter of 2013 as the overall office vacancy decreased 0.1% to 8.0% compared to 17.0% nationally. Despite an average rental rate increase of $0.15 to $18.63 in the market, Pittsburgh remains a value to businesses in comparison to the nationwide average rental rate…
-
Q2 2013 Industrial Market Report
Market Remains Sluggish Through Q2 Pent Up Demand Should Make For An Active Q3 & Q4 Although there continues to be activity in the market the actual deals are few and far between. This makes two consecutive quarters where the Pittsburgh Market has yielded few transactions of significance. In fact, if you strip away the…
-
Pittsburgh Region Continues to be Solid
During the first quarter of 2013 the Pittsburgh commercial real estate market continued to be one of the stronger markets in the United States. Net absorption was relatively flat. This was due primarily to a number of larger growing tenants in the marketplace taking a bit more time than normal to make real estate decisions.…
-
Q1 2013 Pittsburgh Industrial Market Report
Slow Start to 1st Quarter 2013 It’s a marathon, not a sprint – We hope! The Pittsburgh Industrial Market got off to a slow start coming out of the gate in 2013. The 1st Quarter saw very few transactions of significance as buyers and tenants consider the impact of a soft economy, and lingering concerns…
-
Q1 2013 Pittsburgh Investment Newsletter
For the first time in the last four quarters, the Pittsburgh office market vacancy has increased. The Pittsburgh office market vacancy rate for the first quarter of 2013 was 8.0%; 10 basis points above the prior quarter and 380 basis points lower than the national average of 11.8%. Class A office space vacancy remained unchanged…
-
Pittsburgh’s Overall Vacancy Rate Dips Below 8%
Source: Q4 2012 Pittsburgh Office Market Report During the fourth quarter of 2012, Pittsburgh’s overall office vacancy rate decreased to 7.9%, continuing an ongoing positive trend. Behind the stability of Pittsburgh’s banking sector, the strength of local health insurance companies and the under-the-radar growth of many high-tech companies, Pittsburgh continues to be one of the…
-
Pittsburgh Enjoys Positive Industrial Absorption – Although Lack of New Class A Industrial Warehouse Product Still Remains
Source: Q4 2012 Colliers international | Pittsburgh Industrial Market Report Pittsburgh continued its pattern of ignoring national uncertainty during the final three months of 2012, and enjoyed another quarter of positive absorption. Unfortunately, the pattern also continued with the sluggish delivery of new Class A industrial warehouse product. Net absorption for the calendar year 2012…
-
The Pittsburgh Market: 2012 Accolades and 2013 Honors
Sources: Allegheny Conference on Community Development; Imagine Pittsburgh; National Geographic Traveler, Sperling’s BestPlaces; Brookings Institute; The Economist; Bloomberg Businessweek; The Fiscal Times; Pittsburgh Post-Gazette, Pittsburgh Business Times; Pittsburgh Post-Gazette Pittsburgh has a new and amazing year ahead of itself. Our reinvented economy is among the factors offering plenty to celebrate, as 2013 marks the 30…
Colliers' Pittsburgh Office 