Pittsburgh Office Market
| Average Asking Rent (Price/SF) | $24.46 |
| Vacancy Rate (%) | 19.8% |
| Net Absorption (SF) | -230,119 |
During the first quarter of 2021 in the Pittsburgh office market, activity levels gained momentum, albeit minimal. As coronavirus inoculations infiltrate society, the beginnings of an end to the stifling pandemic are finally in sight. While the full impact of the virus outbreak on the Pittsburgh office market has not completely surfaced, near-term effects have begun to resonate.
Download Pittsburgh Office Market Report 1Q21Pittsburgh Industrial Market
| Vacancy Rate Rate (%) | 5.9% |
| Net Absorption (SF) | 160,424 |
Despite the tranquility of the market statistics in the first quarter of 2021, there is reason for optimism for the Pittsburgh industrial market. On March 11, 2021, the American Rescue Plan Act was signed into law. The true impact of the $1.9-trillion plan will play out over the balance of the year, but clearly consumer and business confidence are on the rise as the plan to vaccinate a significant portion of the US population over the next six months brings hope of returning to work, school and travel/leisure/recreational/cultural activities and improving economic conditions.
Download Pittsburgh Industrial Market Report 1Q21