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Market Trend: Pittsburgh's Mid-Year Industrial Deliveries, Construction and Inventory

September 14, 2017
During the second quarter 2017, three buildings totaling 151,500 square feet were completed in the Pittsburgh market area. This compares to four buildings totaling 106,061 square feet that were completed in the first quarter.

There were 395,570 square feet of Industrial space under construction at the end of the second quarter 2017.

Some of the notable 2017 deliveries include: 300 Crown Court, a 100,000-square-foot facility that delivered in second quarter 2017 and is now 0% occupied, and 174 Tomlinson Dr, a 41,125-square-foot building that delivered in first quarter 2017 and is now 100% occupied.

The largest projects underway at the end of second quarter 2017 were Clinton Commerce Center - Bldg 2, a 265,500-square-foot building with 0% of its space pre-leased, and 110 S Campus Dr, a 73,920-square-foot facility that is 17% pre-leased.

Total Industrial inventory in the Pittsburgh market area amounted to 183,039,095 square feet in 5,172 buildings as of the end of the second quarter 2017. The Flex sector consisted of 23,311,540 square feet in 735 projects. Within the Industrial market there were 465 owner-occupied buildings accounting for 34,563,600 square feet of Industrial space.

This trend is compared to the U.S. National Industrial deliveries, which saw 537 buildings totaling 64.42 million square feet completed in the second quarter, with 272.4 million square feet of industrial space still under construction across the country. Total Industrial inventory in the U.S. market area amounted to almost 22.2 billion square feet across more than 643,700 buildings, including 92,000 flex projects and 72,000 owner-occupied buildings.

The information in this news report is based on CoStar’s Second Quarter 2017 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.

GET IN TOUCH        Contact CoStar News Team:   News@CoStar.com

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