Industrial landlords in Pittsburgh are pushing rents higher as demand for industrial space continues to outpace new construction. The average asking rent for industrial space in Pittsburgh increased 2.3% year-over-year to $4.90 per square foot in the first quarter of 2015, a rate the market has held for the past three years. With demand expected to remain high relative to new construction, average rents are forecast to remain around $5 per square foot over the next year as landlords maintain pricing leverage.

1. Industrial landlords hold leverage, push rents
Pittsburgh
• The average asking rent for industrial space across the Pittsburgh market was recorded at $4.90 per
square foot at the end of the first quarter, representing an increase of $0.11 per square foot or 2.3
percent year-over-year. The average asking rent in Pittsburgh has been floating around the $5.00 per
square foot mark for the last three years and is expected to hold firm in this territory over the coming
year as demand will outpace construction activity, further constraining market conditions.
Source: JLL Research
Chart of the week: May 4, 2015
$3.50
$4.00
$4.50
$5.00
$5.50
2006 2007 2008 2009 2010 2011 2012 2013 2014 Q1 2015
Pittsburgh Average Industrial Asking Rent