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Old 01-30-2014, 08:31 PM
 
5 posts, read 8,880 times
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hi all -

a local real estate agent quoted me $30/sq foot today to *purchase* a large warehouse space in the central north side near the Mexican War Streets. this is the listing price. totally bare space maybe 80-90 years old. just curious if anyone can provide any reference for whether this seems to be inline with the current market pricing?

thanks!

Squid729
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Old 01-30-2014, 08:46 PM
 
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What do you mean by *purchase*? Are you buying the building or leasing space?

That's high for leasing warehouse space.
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Old 01-30-2014, 09:02 PM
 
Location: Currently living in Reddit
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To give you some idea, $30/sf rent is what retail space in 3 PNC Plaza was going for seven years ago. Warehouse space shouldn't be much more than $9/sf close to downtown and significantly less the farther out you go.

It also seems too high if you're purchasing. A quick look on craigslist turns up a Central No. Side dump of a warehouse for between $5-$6/sf.
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Old 01-30-2014, 09:13 PM
 
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this space is FOR SALE at this LIST price - not a lease.
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Old 01-30-2014, 10:07 PM
 
Location: Currently living in Reddit
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Based on this, $30/sf looks reasonable. Prices are all over the place though, up to $100/sf in the Strip down to $15/sf in Sharpsburg. Doesn't seem to be much rhyme or reason to pricing.
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Old 02-01-2014, 11:09 AM
 
Location: Pittsburgh
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Sales prices for warehouse space generally range from $10-$60 per square foot dependent upon the location and quality. $10 gets you something that is falling over and $60 gets you a pretty nice building in a suburban location.

If its a decent block building with drive-in or dock doors then $30 probably is realistic.
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Old 02-14-2014, 10:28 AM
 
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thanks all, the feedback has been appreciated!
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