Average Asking Rent (Price/SF)	$24.18
Vacancy Rate (%)	19.3%
Net Absorption (SF)	-78,925

Battered by a pandemic, 2020 was a volatile year. The Pittsburgh office market mirrored national trends: diminished activity levels; rising vacancy; historically high levels of sublease space; negative net absorption; and increased landlord concessions placing downward pressure on net effective rents.

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Pittsburgh Industrial Market

Vacancy Rate Rate (%)	6.5%
Net Absorption (SF)	1,104,911

After taking a multi-month timeout in the second quarter of 2020, the Pittsburgh industrial market experienced both positive signs of activity and negative signals of disrupted businesses in third-quarter 2020. It is still too early to tell if the economic recovery will be V-shaped, K-shaped or a Nike swoosh, but one thing is for certain: the expansion of Amazon.com and ecommerce is taking shape in Pittsburgh, and institutional investor appetite remains strong.

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