Tag: Commercial Real Estate
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Q4 2014 Pittsburgh Industrial Market Report
Q4 2014 Static Finish to the Year The fourth quarter of 2014 finished without the anticipated flourish that it was trending toward. Vacancy actually crept up three basis points from 7.2% to 7.5% while absorption for the quarter experienced a negative 591,656 square feet. This is the largest negative quarter since 2009 and all others,…
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Q3 2014 Pittsburgh Industrial Market Report
Q3 2014 Trending Upward As expected the third quarter was an active quarter for lease executions. Net absorption for the quarter was 950,000 SF putting year to date absorption at just under 1,500,000 square feet. This already exceeds 2013’s total absorption of 1,150,000 square feet. With the current activity in the market there is no…
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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 Industrial Market Report
Q1 2014 Off to a Good Start The first quarter of 2014 bodes well for the remainder of the year. The market is not only active, but deals are closing. This is welcome news given the fact that while the market has seen activity over the last four quarters, the actual transactions were often slow…
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Colliers International | Pittsburgh Welcomes Jacob Machel as Research Analyst
Jake Machel joins Colliers International | Pittsburgh as a Research Analyst and Broker-In-Training. His responsibilities include collecting and analyzing past, present and future real estate market statistics; tracking market trends and business movement; and assisting in the formulation of Quarterly Market Reports. While serving as research analyst, Jake is also currently studying the real estate…
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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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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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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,…
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