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 norm, even if it’s only one day a week, causing companies to want to lease less space for the same number of employees. It’s even impacting Disney! Add that to the influx of new office space in Pittsburgh and vacancy is sure to continue to rise.
