PITTSBURGH — The Pittsburgh office market vacancy continues to rise, reaching 22.2% in a new report by the Pittsburgh office of JLL, a slight uptick from previous quarters.
Even as the pandemic keeps fading into the past, the historic societal event’s influence on how people live and work continues to play out on the need for space as the staggered impact of companies shifting to smaller offices gradually limits the office demand in the Pittsburgh market, downtown and throughout the region.
JLL attributed an increase in the vacancy rate as “largely driven by significant tenant relocations and downsizing” in what the report emphasized were “shifting tenant dynamics and evolving economic drivers.”
Dan Adamski, executive managing director for brokerage in the Pittsburgh office of JLL, reiterated that point in an emailed response on the report and added he expects vacancy to continue to rise in the near term while pledging long-term optimism about ongoing shifts set in motion.
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