Pittsburgh Office Market Reports | Avison Young US - Pittsburgh

Pittsburgh office market report

Q4 2022

The Pittsburgh office market in Q4 continued the trends that the city has experienced most of the year. Office visitors continue to progress upward towards pre-pandemic levels at rates higher than national averages while still well below below pre-pandemic levels While most of the market’s vacancy and availability rates saw continued increases, rental rates in newer Class A quality space continues to see a steady increase.

55.1%

Office visitor volumes

Office visitor volumes the week of December 12, 2022, relative the week before the lockdown (March 15, 2020). This is measured using Avison Young's proprietary data visualization platform.

15.2%

Total vacancy

Total vacancy rate in Pittsburgh office buildings. This is up 1.3% from year-end 2021.

747,000 sf

Under construction

Amount of office space under construction in Pittsburgh.

1.8+ msf

Sublease market

Total size of the sublease market in Pittsburgh. This number has grown in recent quarters but is at similar levels to the end of 2021.

18.3%

Availability rate

Availability rate in Pittsburgh office buildings. This is up 1.2% from year-end 2021.

$161M

Office sales

Total office sales in 2022. This volume is down slightly from the $206M traded last year.

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Get in-depth office market reports and insights from commercial real estate experts in the Greater Pittsburgh area. Avison Young advisors look at Pittsburgh commercial real estate activities and the latest Pittburgh statistics to provide you expert market research on Pittsburgh's office properties.

Explore different topics like the latest office market pricing trends and analysis of Pittsburgh's current office real estate market conditions. Gain a better understanding of Pittsburgh’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Pittsburgh's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Pittsburgh.

The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.