The Pittsburgh office market’s return to positive absorption and vacancy decline, despite limited new supply, signals potential for a cautious recovery.
So why is inflation increasing? Business leaders in Pittsburgh and throughout the country are asking me this question. The list of reasons is extremely extensive but starts with the pandemic, rising consumer demand, tight supply, labor shortages, the Russian invasion of Ukraine, shipping delays, and rising transportation prices.
The Pittsburgh office market is alive and thriving. Here is our Viewpoint Pittsburgh Market Q2 2021. Tech, healthcare, and life sciences companies are thriving. Many of them are doubling and tripling in size and looking for office spaces that can not only allow them growth but significant amenities to recruit and retain top talent. The…
The Rise Pittsburgh Viewpoint: Pittsburgh’s market is definitely straining under the weight of the economic difficulties resulting from the pandemic. Net Absorption rates are significantly in the negative and subleases are increasing substantially almost weekly, particularly in the Central Business District (CBD) and Southpointe. A number of developers are taking the risk and building, hoping…
Rise Pittsburgh Q4 Viewpoint A Q4 update from Rise Pittsburgh: Pittsburgh is not known as a volatile market. And while it is currently softening, the success of our technology industry gives reason for hope. Click here to see the entire report. The Rise Pittsburgh Viewpoint is a quarterly review of the overall commercial real estate…
Despite the pandemic, Q2 2020 overall rent in the Pittsburgh market remained virtually unchanged. Sublease availability increased, as it has nationally, with companies looking to unload space that isn to needed while employees work from home. Many companies are still playing the waiting game and extending short-term, but the market has also seen some activity….