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 from the prior quarter at a rate of 6.3%. Class B office space reported a vacancy rate of 9.3% which is a 30 basis point increase from the prior quarter. Class C office space increased by 10 basis points to a rate of 7.3%. As expected from the ascending vacancy trend, the average asking price per square foot dropped 1.4% to a rate of $18.49.
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