Recent Report Shows Office Space in Pittsburgh

Office location is an important part of any business. The demand for office space in and around Downtown Pittsburgh is growing. However, the vacancy rate for Class A offices is lower than New York, Chicago, San Francisco, and other in-demand cities according to a recent Jones Lang LaSalle report. 

Downtown Pittsburgh — at 5.2 percent — had the second lowest vacancy rate for Class A space among downtowns in the United States last year. The only one lower was Bellevue, Wash., at 3.9 percent.

"Downtown Pittsburgh is one of the tightest markets in the country," said Jason Stewart, Jones Lang LaSalle executive vice president.

Tighter than New York (12.8 percent vacancy rate), Boston (11.1 percent), Chicago (14.3 percent), Los Angeles (19.2 percent), San Francisco (9 percent), Seattle (12.9 percent), Austin (14.5 percent), Dallas (23.9 percent), Denver (12.7 percent), Charlotte (8 percent), Cincinnati (23.5 percent) and Columbus (16.1 percent).

It's not only Downtown that is doing well.

At 10 percent, the overall Pittsburgh metropolitan market had the third lowest vacancy rate in the U.S. last year, according to the CBRE real estate firm. The only metro areas lower were San Francisco at 8.6 percent and Manhattan at 8.5 percent.

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