Pittsburgh Commercial Real Estate News Brief: September 2017

0 CommentsBy

In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Pittsburgh to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Downtown Pittsburgh Outpacing Suburbs with Office Tenants

Photo Credit: Mr.TinDC

The number of corporate office moves in the downtown Pittsburgh area is surpassing those in the suburbs, according to new Skyline research. Pittsburgh has seen a steady demand for office space in downtown’s most prominent buildings, keeping vacancy at 11.7%. So, what’s drawing tenants here?

While suburban properties still have their own perks, many companies are quickly realizing that downtown is where the young talent is. Likewise, it’s also where the competitive amenities are to retain their workforce. Many building owners are now also taking the plunge to upgrade office spaces with renovations to meet tenant demand.

For more details on office moves and rates, download the Q2 Pittsburgh Office Report or Q2 Industrial Report.

More Pittsburgh Headlines

  • A $1.1 billion renovation to the Allegheny County Airport is underway. The project would include a new landside terminal attached to the Pittsburgh International Airport airside terminal, as well as expanded security checkpoints among other improvements.
  • A new report by the Brookings Institution detailed plans and results on how to make Pittsburgh a top innovation city, highlighting the city’s key opportunities in robotics, manufacturing, life sciences and technology. Scholars at the institution cited a stronger startup environment could be a driver of success and innovation in the future.