Pittsburgh Industrial Figures Q3 2026

In Q3 2026, market conditions tightened, with occupancy improving even as leasing volume pulled back. Net absorption turned positive at 189,000 sq. ft., compared with negative 68,000 sq. ft. recorded in Q2 2026, and vacancy fell 20 basis points quarter-over-quarter to 5.2%. Average asking rent increased to $8.32 per sq. ft., up from $7.74 per sq. ft., and under-construction space held at 859,000 sq. ft. across 8 properties with no deliveries in the quarter. Despite these gains in occupancy and pricing, tenants leased  513,000 sq. ft., down from 771,366 sq. ft. in Q2 2026.

Over the full data series, the market cycled between strong expansion, periods of contraction, and a rebuilding development pipeline.