Pittsburgh industrial was not immune to sublease space being added in 2020 with an additional 650,000 sq. ft. being marketed since the beginning of April.
Construction activity remained strong with over one million square feet delivering and more than one million square feet still under construction. Current construction remained dominated by build-to-suit projects leaving limited new supply available.
Multiple large investment sales closed at the end of 2020 including Thorn Hill Distribution Center (431,000 sq. ft.) and a recently completed Amazon distribution center as part of a national warehouse portfolio resulting in the largest industrial investment sale in the Pittsburgh market’s history.