Intelligence

Commercial Real Estate INSIGHTS

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Find the information you need to make informed commercial real estate decisions with up-to-date insights and the latest commercial real estate news. Our Coldwell Banker Commercial brokerage professionals provide invaluable, game-changing advice for businesses, identify real estate opportunities that others might overlook and offer creative solutions and sound business sense in an ever-changing environment. For more information, contact one of our specialists today.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Land Sales Trends

Insights: Land Sales Trends

The U.S. economy entered a recession in February, 2020, per the National Bureau of Economic Research. Commercial real estate development typically slows during a recession because developers do not want to incur the holding costs of land parcels if there is not an expected demand for new product.

Insights: Student Housing 2020

Insights: Student Housing 2020

The main uncertainty in the student housing sector is COVID-19’s impact on the 2020-2021 school year’s leasing. There is a variety of factors which make the student housing occupancy outlook uncertain.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Landlord Employer Liability

Insights: Landlord Employer Liability

The ongoing coronavirus pandemic raises the question of whether landlords with leased properties can be held liable for injuries sustained when someone contracts COVID-19 at the premises.

Opportunity Zones & Taxes

Opportunity Zones & Taxes

What are Opportunity Zones? The real estate industry is buzzing about this new program which allows private investment in country’s distressed communities. CBC brings you a quick overview to help you understand what they are and how investors can use them for their benefit.

Regional Summaries

Select a state to view available market snapshots

Pittsburgh, PA

Apartment
The 94,064-unit Pittsburgh apartment market vacancy rate is 4.9% for the first quarter of 2019, essentially unchanged for the period and down 60 basis points year-over-year. The average asking rent increased 0.3% during the first quarter of 2019 to $1,112 per month, with the average effective rent up 0.4% to $1,052 per month. The 2018 gains had been 4.9% and 5.0%, respectively, the latest in a series of strong increases. VIEW APARTMENT LISTINGS >
Industrial
The 61.2-million-square-foot Pittsburgh warehouse/distribution space market got off to a strong start in 2019, with 103,000 square feet of net absorption in the first quarter and a vacancy rate that fell 20 basis points to 7.9%. The rate is down 130 basis points year-over-year. Both the average asking rent and the average effective rent were unchanged during the quarter at $4.76 psf and $4.48 psf, respectively. These rates were up a modest 0.6% and 0.7% year-over-year. The 10.0-million-square-foot local Flex/R&D market vacancy rate fell 120 basis points over the first quarter of 2019 to a still-high 18.5%, down 100 basis points from a year earlier. The average asking rent increased 1.1% over the quarter to $8.38 psf, and the average effective rent was up 1.0% to $7.78 psf. The year-over-year gains are 2.1% and 2.4%, respectively. VIEW INDUSTRIAL LISTINGS >
Office
The 53.2-million-square-foot Pittsburgh general purpose, multi-tenant office market has a development boom under way despite high vacancy. The first quarter 2019 vacancy rate was 19.0%, down 30 basis points for the period but up 40 year-over-year. Rents suddenly stopped edging up during the first quarter, as the average asking rent slid 0.2% to $22.52 psf and the average effective rent slipped 0.1% to $19.06 psf. This reduced the year-over-year gains to 0.9% and 1.0%, respectively. VIEW OFFICE LISTINGS >
Retail
The 17.9-million-square-foot Pittsburgh community-neighborhood shopping center market first quarter 2019 vacancy rate is 9.6%, up 70 basis points during the period and up 100 year-over-year. Average community-neighborhood center rents were up 0.4% by both measures in the first quarter, to $18.28 psf asking and $16.04 psf effective. The 2018 rent gain had been 1.8% by both measures. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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