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JLL Pittsburgh Chart of the Week: August 17, 2015
- 1. Lack of Class A warehouse availability is constraining demand Pittsburgh • Industrial availability in Pittsburgh was 11.9 percent at the end of the second quarter, relatively unchanged through the first six months of the year as expansions offset downsizings. Most of this availability is older generation space though and is not compatible with modern warehouse operations. Class A warehouse availability is severely limited and has been for several quarters. Across the region there are only two Class A listings greater than 100,000 square feet. Tenant demand is pent-up and added supply is still some time off, ensuring landlord-favorable conditions over the next year. Source: JLL Research Chart of the week: August 17, 2015 10% 12% 14% 16% $4.00 $4.50 $5.00 $5.50 2011 2012 2013 2014 YTD 2015 Asking rents Total availability Pittsburgh industrial fundamentals