Office construction in Pittsburgh has continued on at robust levels over the last four years. Tenant demand has held steady with supply gains and as a result, vacancy continues to hover in the mid-teens.

1. Office construction continues at a strong clip
Pittsburgh
• Office construction in Pittsburgh has continued on at robust levels over the last four years. Tenant
demand has held steady with supply gains and as a result, vacancy continues to hover in the mid-teens.
Currently 1.8 million square feet of office product is under construction with another 700,000 square feet
scheduled to break ground in the next year.
• The latest project to be announced was by Carnegie Mellon, which is pursuing a 425,000-square-foot
mixed-use development adjacent to its campus in the Oakland/East End submarket where office vacancy
sits at a mere 3.6 percent. The project has received significant interest from tenants and developers
given its prime location and visibility.
Source: JLL Research
Chart of the week: July 13, 2015
748,000
267,000
488,000
268,000
1,588,000
-
500,000
1,000,000
1,500,000
2,000,000
2014 2015 2016 2017
Office construction deliveries – past and projected (s.f.)