Pittsburgh Office Market
| Average Asking Rent (Price/SF) | $24.41 |
| Vacancy Rate (%) | 20.0% |
| Net Absorption (SF) | -85,114 |
After months of pandemic-related disruption, the nation appeared to have finally turned the corner in the fight against the coronavirus during the second quarter of 2021. The Center for Disease Control removed the mask mandate for those fully vaccinated and eased restrictions on density requirements, breathing optimism into the air.
Download Pittsburgh Office Market Report 2Q21Pittsburgh Industrial Market
| Vacancy Rate Rate (%) | 6.4% |
| Net Absorption (SF) | -472,499 |
The second quarter of 2021 was relatively quiet for the Pittsburgh industrial market as compared with the strong performance of the previous three quarters due to the optimism created by the vaccine rollout and enthusiasm for a return to normalcy in business and daily life. As vaccination rates seemed to plateau and back-to-work start dates fluctuated between early summer and the fall, activity slowed in second-quarter 2021; however, the lack of significant closed new leases or sale transactions did not have a negative impact on the market statistics, which remain very healthy.
Download Pittsburgh Industrial Market Report 2Q21