This quarter, Pittsburgh appears to be ahead of the national curve – especially where commercial real estate is concerned. Normally, Pittsburgh has the dubious reputation for being 10 years behind the times. Skinny jeans are on the way out, but everyone in Pittsburgh is wearing them! Big hair has been out for decades, but you’d…
This quarter, the news is all about companies downsizing, the resulting office vacancy and a bit of hope. We’ve been saying for a year now that companies are in a state of uncertainty. Everyone knows that the Work from Home (WFH) movement has had an impact on business planning, but it seemed like companies were…
by Dana Bice Recently, we began working – for the 4th time – with a client who was comfortable and simply looking to renew their lease. We suggested, as we always do, that they take a look at the market and see what other options are available. Their response? “We’ve been comfortable in our space for…
This past quarter, Q1 2023, has brought even more declines to Pittsburgh. And unfortunately, the Central Business District (CBD) is bearing the brunt of it decreasing leasing activity and increasing vacancy. Rising crime reports, less available funding for startups, as well as the uncertainty surrounding the Work-from-Home (WFH)/Back-to-Work dilemma left many companies re-evaluating their real…
carefully choose what you’ll give 120% to. It’s looking like 2023 will bring uncertainty to the world of commercial real estate, and Pittsburgh is no exception. Lease transaction volume has remained relatively stable, but companies are downsizing more often than not. We are seeing this with almost every client. Working from home has become the…
Layoffs seem to be all we’re talking about, besides politics, of course. LOL Layoffs! I know it’s come as quite a surprise that companies like Argo and Fifth Season are closing and Meta (Facebook) and Twitter are laying off staff. But it really should not surprise anyone! We should have seen it coming. Generally speaking,…
ESG, or Environmental, Social and Governance, is all over social media. It seems as if everywhere I look, ESG is mentioned. Business leaders across multiple industries seem to be on or getting on the ESG bandwagon!
The office still has a critical role to play as we look toward the future and our new normal and many of us are thrilled to sit in traffic again.
I’m one of the lucky people. I can honestly say that I thoroughly enjoy my job. I have had, over the years, the opportunity to work with a variety of clients – large and small; industrial, flex, retail and office; technology, not-for-profits, yoga studios and law firms – you name it and it’s come through…
This year has been difficult to say the least. Working from home, not being able to enjoy hobbies, and limited in-person interactions is a perfect storm for feelings of social isolation. We have all been affected but in different ways. If you’re looking to combat the emotional strain of the pandemic, keep reading to learn…
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…
The Pittsburgh Commercial Real Estate (CRE) market has changed quite a bit! The number one defining factor? COVID-19. COVID has shut down buildings, hotels, companies, restaurants, coffee shops – you name it and it’s been affected. Like many other cities across the United States, Pittsburgh’s central business district (CBD) has been the hardest hit. Subleases…