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Gregg Broujos
Managing Director & Founding Principal | Pittsburgh

Market insight is the essential ingredient in all of the services we offer. We monitor trends and make projections to help you make critical decisions. Our researchers continuously source and analyze data in every major global market, helping you adapt to drivers outside your industry and region that could impact your business.

Recent Pittsburgh Reports

Q1 2017 Pittsburgh Investment Newsletter

Check out the newly remodeled Investment Newsletter. In this edition of the 1st Quarter 2017 Investment Newsletter the Investor Spotlight features Bill Hunt, The Elmhurst Group based in Pittsburgh, PA.

Q1 2017 Pittsburgh Office Market Report

The average quoted rental rates for available office space, all classes, increased 1.3% from last quarter to $20.94 per square foot. In Pittsburgh’s CBD, both Class A & B properties experienced rent growth from the previous quarter, with Class A at $25.90 per square foot (up from $25.82 per square foot) and Class B at $19.96 per square foot (up from $19.69 per square foot).

Retail Marketplace Newsletter Image
Q1 2017 Pittsburgh Retail Newsletter

The Pittsburgh retail market continues to thrive with new retail space and tenants. The first quarter of 2017 has been successful for Landlords who own retail space in primary suburban markets and robust urban trade areas. With that being said, rental rates continue to climb into the mid to high $20’s per square foot and $30’s for new construction. These rates can be a sticker shock for new retailers and restaurants expanding into Pittsburgh and has forced tenants to become more strategic on where they open. However, Pittsburgh continues to win accolades for its growing retail, food and beverage scene.

Q1 2017 Pittsburgh Industrial Report

The first quarter of 2017 finished with a vacancy rate of 5.7% across all product types which is unchanged from year end 2016 and one (1) basis point lower than 1st quarter 2016. Class A warehouse availability continues to be limited despite the fact that there is continued, albeit limited, speculative development. Flex vacancy is 9.2% with the most significant availability in the Washington County submarket. Average rental rates for flex and warehouse went in opposite directions with flex decreasing $.19 to $11.69 and warehouse increasing $.20 to $5.29 from the previous quarter. Net absorption for quarter one was approximately 205,000 square feet.


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