"Pittsburgh's Office Vacancy Decreases to 11.5%  Net Absorption Postive 78,183 in the Quarter"

The Pittsburgh Office Market ended the third quarter of 2008 with a vacancy rate of 11.5%.  The vacancy rate was down over the previous quarter, with net absorption totaling positive 78,183 square feet in the third quarter.

Vacant sublease space increased in the quarter, ending at 542,522 square feet.  Rental rates ended the third quarter at $18.54, a decrease over the previous quarter.   One (1) building was delivered to the market in the quarter totaling 4,500 square feet, with 1,104,640 square feet still under construction at the end of the quarter.

“Pittsburgh's Industrial Vacancy Decreases to 10.5%.  Net Absorption Positive 930,657 SF in the Quarter”

The Pittsburgh Industrial Market ended the third quarter of 2008 with a vacancy rate of 10.5%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 930,657 square feet in the third quarter.

Vacant sublease space decreased in the quarter, ending at 349,137 square feet.  Rental rates ended the third quarter at $4.59, a decrease over the previous quarter.  One (1) building was delivered to the market in the quarter, totaling 20,000 square feet, with 432,018 square feet were still under construction at the end of the quarter.

For a full market report on vacancy, largest lease signings, rental rates and inventory, please call 412-391-3500.