Demand has jumped for Pittsburgh-region industrial space over the past year. The industrial vacancy rate declined 5.7 percent in the first quarter compared with the same quarter last year, with a 1.6 million-square-foot absorption of industrial space in the market, according to Avison Young's Spring 2017 North America and U.K. Industrial Market Report released Thursday. That includes 153,000 square feet of space leased by Vertiv Operating Co. at Netflix's building at 151 Thorn Hill Road.
Demand High for Pittsburgh-Region Industrial Space
The industrial vacancy rate in the market has declined significantly from the year before.