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. 3M finalized a deal for over 50,000 square feet in a portion of ICON Development’s North Point Breeze redevelopment project. Building construction continues in the areas surrounding the CBD. However, it will be interesting to see how the market reacts to the continuing pandemic going forward in 2020.
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