"Pittsburgh's Office Vacancy Decreases to 11.8%.  Net absorption positive 684,678 SF in the Quarter."

The Pittsburgh Office Market ended the second quarter of 2008 with a vacancy rate of 11.8%.  The vacancy rate was down over the previous quarter, with net absorption totaling positive 684,678 square feet in the second quarter.

Vacant sublease space increased in the quarter, ending at 358,627 square feet.  Rental rates ended the second quarter at $18.55, a increase over the previous quarter.   Two (2) buildings were delivered to the market in the quarter totaling 305,600 square feet, with 967,855 square feet still under construction at the end of the quarter.

“Pittsburgh's Industrial Vacancy Remains Unchanged at 11.8%.  Net Absorption Positive 41,337 SF in the Quarter”

The Pittsburgh Industrial Market ended the second quarter of 2008 with a vacancy rate of 11.8%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 41,337 square feet in the second quarter.

Vacant sublease space decreased in the quarter, ending at 388,995 square feet.  Rental rates ended the second quarter at $4.61, an increase over the previous quarter.  No buildings were delivered to the market in the quarter, while 406,907 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.