NVI Technical College Information

M ARKET A NALYSIS 46

M ARKET O UTLOOK The Pittsburgh Industrial market ended the second quarter 2023 with a vacancy rate of 4.96%. The vacancy rate decreased over the previous quarter, with net absorption totaling 394,975 square feet in the second quarter 2023. Rental rates decreased $0.08 PSF over the previous quarter and ended at $8.21. A total of 302,976 square feet was delivered in the quarter, with 3,443,504 square feet still under construction at the end of the quarter.

F OUR B UILDING I NDUSTRIAL C OMPLEX A PPRAISAL

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