Pittsburgh Industrial Figures Q2 2026

The market ended the quarter with vacancy at 5.4%. Net absorption measured negative 68,000 sq. ft. during the period. This reversed 473,000 sq. ft. of positive absorption in the prior quarter. Net absorption decreased by 323,000 sq. ft. year-over-year. Vacancy remained unchanged quarter-over-quarter. It was 20 basis points higher than one year earlier. Vacancy increased by 100 basis points compared with the earliest period provided. The availability rate reached 6.2%. Average asking rents stood at $7.73 per sq. ft. Average rents declined by 10.9% year-over-year. They decreased by 10.3% relative to the earliest period. The construction pipeline measured 959,000 sq. ft. in the current quarter. It increased by 56,000 sq. ft. quarter-over-quarter. The pipeline declined by 2.4 million sq. ft. from the earliest quarter in the data set. No new space delivered during the quarter. This followed 318,000 sq. ft. of deliveries in the prior quarter. Reported top new leases totaled 369,000 sq. ft. for the period. The largest was a 226,000 sq. ft. confidential lease in the South submarket. Cranberry recorded two leases totaling 143,000 sq. ft.