rise pittsburgh viewpoint Q1 2021

Rise Pittsburgh Viewpoint
Pittsburgh Bridge

The Rise Pittsburgh Viewpoint: Pittsburgh’s market is definitely straining under the weight of the economic difficulties resulting from the pandemic. Net Absorption rates are significantly in the negative and subleases are increasing substantially almost weekly, particularly in the Central Business District (CBD) and Southpointe. A number of developers are taking the risk and building, hoping for a quick rebound. Work has begun in the Strip District and East Pittsburgh and projects have been proposed in East Liberty, Moon Township, the Strip District and Oakland. Additional positive signs have come to light recently. First, there are more and more shots in arms and every shot brings us that much closer to the new normal. And, though the market is definitely softening, vaccinations, as well as the success of our technology industry give reason for hope. Case in point? The William Penn has re-opened for business in the CBD and that is a clear sign that the worst of the pandemic is behind us.

The Rise Pittsburgh Viewpoint is a quarterly review of the overall commercial real estate market in Pittsburgh and the surrounding area. Don’t miss out on any Rise news, updates, or opportunities. Join our Email List. If you have any questions, or want to schedule a one-on-one meeting to review your space needs, please click HERE. We are here to help you navigate the ever changing world of commercial real estate!

Anyone can help you “find space”. Rise Pittsburgh uses proprietary technology to transform how future-focused companies discover the perfect workplace. As independent workspace advisors, we elver objective knowledge and customized solutions to connect the loop between talent, culture, and space. Through technology, complete transparency, and passionate client advocacy, we are disruption the traditional real estate model, delivering solution-focused workplace strategies. Rise Pittsburgh is a 100% Women-Owned Business.

View Viewpoint Q1 2021 Report

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